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Economy News - Baghdad
Dollar prices fell in the parallel market, by about 5% since yesterday, after the Central Bank directed to reduce the value of the dollar to 1,350 dinars.
The Central Bank submitted to the government a study, including devaluation of the dollar, especially since the Ministry of Finance a few days ago prepared the budget at the price of 1350 dinars per barrel of oil.
The exchange rate of the dollar fell from 1660 dinars to 1580 dinars, which is the lowest decline during the current week.
The dollar's rise in the parallel market is due to the elimination of exchange companies that carry out financial transfers away from the requirements of the Swift system.
According to informed sources, to "Al-Iqtisad News", "The intention of Prime Minister Muhammad Shia'a al-Sudani, more than a month ago, is to reduce the exchange rate of the dollar in the financial budget from 1450 dinars to 1350 dinars."
She added, "The budget is set at a price of 1,350 dinars, and the reason for its delay is the issue of the exchange rate, and not another issue."
And she explained that after approving the new price in a meeting of the Board of Directors of the Central Bank, the budget will be approved by the Council of Ministers and sent to Parliament.
While, specialists confirmed, decreasing the value of the dollar will increase the purchasing power of the owners of the Iraqi dinar.
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