[size=36]Central Bank Governor: There is no intention to reduce or change the dollar exchange rate[/size]
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The Governor of the Central Bank of Iraq, Mustafa Ghaleb, announced, on Tuesday, the bank's intention to issue a new denomination of the Iraqi currency with a value of 20 thousand dinars, while confirming that there is no intention to reduce or change the dollar exchange rate.
Ghaleb said in a speech within the work of the "Al-Rafidain Forum", which was followed by "Mawazine News", that "there is no intention of the Central Bank to reduce or change the exchange rate of the dollar," noting that "Iraq is still in the early stages and reaping the positive effects of changing the exchange rate." There are some negative indicators that we are working to address in the coming period."
He added, "There is a previous project submitted by the Central Bank regarding the process of deleting zeros," noting that "this matter needs to legislate a law and this project requires some amendments, and that the pursuit of this law needs to stabilize the situation in the country and the atmosphere must be provided to accept such transactions. ".
He continued, "The Central Bank, within the currency chain, is working to complete a new category of 20 thousand dinars based on study and research compared with neighboring countries and is working to complete the form of the paper."
He noted that "the Central Bank has reduced the interest rate on loans provided to finance projects, and that the initiatives have largely targeted the housing sector, which occupies more than 30% in various sectors." Ended 29/N33