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[size=36]Central Bank: There is no justification for changing the exchange rate at present[/size]
Economie| 10:09 - 10/07/2022
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Baghdad - Mawazine News
, the Central Bank confirmed, on Sunday, that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic circumstance is the main criterion for changing the exchange rate.
The Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement to the official news agency, which was followed by "Mawazine News", that "the exchange rate at the present time - in our opinion as a monetary authority - there is no justification for changing it."
He explained, "Changing the exchange rate remains within the policy of the monetary authority and according to the circumstances," adding that "during the years from 2004 until now, the exchange rate changed more than once according to the circumstances, whether toward an increase or decrease."
He pointed out that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years, and the economic conditions determine what is the appropriate decision that fits the time period at the time."
He stressed, “The exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks of changing the exchange rate, but currently there is no justification or need to modify it,” explaining, that “monetary policy, one of its advantages is flexibility in general and not It is good to change the exchange rate quickly because it confuses the markets and weakens the economy." Ended 29/N33
, the Central Bank confirmed, on Sunday, that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic circumstance is the main criterion for changing the exchange rate.
The Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement to the official news agency, which was followed by "Mawazine News", that "the exchange rate at the present time - in our opinion as a monetary authority - there is no justification for changing it."
He explained, "Changing the exchange rate remains within the policy of the monetary authority and according to the circumstances," adding that "during the years from 2004 until now, the exchange rate changed more than once according to the circumstances, whether toward an increase or decrease."
He pointed out that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years, and the economic conditions determine what is the appropriate decision that fits the time period at the time."
He stressed, “The exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks of changing the exchange rate, but currently there is no justification or need to modify it,” explaining, that “monetary policy, one of its advantages is flexibility in general and not It is good to change the exchange rate quickly because it confuses the markets and weakens the economy." Ended 29/N33
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