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Al-Kazemi's Advisor Sets An Alternative Path To End The “Exchange Rate” Crisis
15/08/2022
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15/08/2022
95
[You must be registered and logged in to see this link.]
Earth News/ Haitham Al-Jubouri, technical advisor to Prime Minister Mustafa Al-Kazemi, confirmed that it is impossible to return the dollar exchange rate to its previous position, while the value of the dinar can be raised against the dollar.
Al-Jubouri said in a televised interview, followed by Earth News, today, Monday, that "returning to the old exchange rate is a fantasy, as the losses that Iraq will pay in the event of a return will be more than the dollar's survival at its current price."
Al-Jubouri added, "We have to say how the strength of the Iraqi dinar can be restored, against the dollar, but not by a government decision, and this matter is achieved through supply and demand."
He stressed that "the only source of dollars at the present time is the Central Bank, for what it receives in dollars from the Ministry of Finance, for Iraqi oil sales."
He pointed out that “the currency sale window cannot be stopped by the state, as it considers the department to withdraw the dinar and pump the dollar, as it delivers the dinar to the Ministry of Finance and receives the dollar instead, and then the ministry distributes the dinar in various forms, including salaries as well as investment projects.” .
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Al-Jubouri said in a televised interview, followed by Earth News, today, Monday, that "returning to the old exchange rate is a fantasy, as the losses that Iraq will pay in the event of a return will be more than the dollar's survival at its current price."
Al-Jubouri added, "We have to say how the strength of the Iraqi dinar can be restored, against the dollar, but not by a government decision, and this matter is achieved through supply and demand."
He stressed that "the only source of dollars at the present time is the Central Bank, for what it receives in dollars from the Ministry of Finance, for Iraqi oil sales."
He pointed out that “the currency sale window cannot be stopped by the state, as it considers the department to withdraw the dinar and pump the dollar, as it delivers the dinar to the Ministry of Finance and receives the dollar instead, and then the ministry distributes the dinar in various forms, including salaries as well as investment projects.” .
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