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With the exacerbation of the dollar crisis.. Parliament hosts the central governor
The first 2023/07/22
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Baghdad: The Emad of the Emirate
The House of Representatives intends to host the Governor of the Central Bank, Ali Al-Alaq, and the Minister of Finance, Taif Sami, during the current week, to find out the reasons for the lack of control over the parallel exchange rate.
The parallel price means the exchange rate of the dollar in the market and exchange offices, and not the official rate set at 1132 dinars per dollar, according to the decision of the Board of Directors of the Central Bank of Iraq, which was approved by the Council of Ministers
.
The exchange rates of the US dollar against the Iraqi dinar rose in Baghdad markets, after Washington imposed sanctions on 14 Iraqi banks, to reach 152 thousand dinars per hundred dollars yesterday, Friday.
Member of the Finance Committee, Representative Mueen Al-Kazemi, said in a press statement: "The government tried to control the exchange rate, by reducing the dollar from 145 to 130, and was able to provide remittances to countries to which remittances can be sent."
Al-Kadhimi added, "However, there are other countries from which Iraqi merchants import, and US sanctions prevent sending these remittances, forcing these merchants to obtain dollars from the parallel market."
He explains, "Which leads to the dollar's price remaining high in this market, and the recent measures of the US Federal Reserve not to deal with a number of private banks had an impact on the rise in the
dollar's price."
Regarding the procedures of the Finance Committee in this regard, Al-Kazemi confirms, "There will be a hosting of the Governor of the Central Bank and the Minister of Finance this week, to find out the real reasons for the inability to control the parallel price."
For his part, Dr. Ahmed Al-Rawi, a specialist in economic affairs, told Al-Sabah that “approving the current budget with large allocations for spending will lead to an increase in demand for the dollar, and despite the central bank’s measures to mitigate the official price difference from the parallel, all these measures only affect a few percentages in this difference.
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