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The Iraqi parliament discusses the relationship in the "significant rise" in the price of the dollar
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2023-07-24 02:50
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Shafaq News/ The Finance Committee in the Iraqi Parliament will host, on Monday, the Governor of the Central Bank, Ali Al-Alaq, regarding the significant rise in the exchange rate of the dollar against the dinar.
A parliamentary source told Shafaq News agency that the Finance Committee in the Iraqi Parliament is hosting, this afternoon, the Governor of the Central Bank, Ali Al-Alaq, in order to discuss the significant rise in the dollar exchange rate and the bank's procedures and plans to counter this rise.
During the past two days, the exchange rates of the US dollar against the Iraqi dinar increased dramatically, in the Baghdad markets, and in Erbil, the capital of the Kurdistan region, after Washington imposed sanctions on 14 Iraqi banks.
In this context, Moeen Al-Kadhimi, a member of the Finance Committee, told Shafaq News agency, "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-Kazemi added, "But there are other countries from which Iraqi merchants import, and the US sanctions prevent sending these remittances, which forces these merchants to obtain dollars from the parallel market, which leads to the dollar's price remaining high in this market, and with the recent measures of the US Federal Reserve not to deal with a number of private banks, this had an impact on the rise in the price of the dollar, to reach 155."
And on 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 Ministry of Finance during the next week, to find out the real reasons for the inability to control the parallel price."
Last Wednesday, the US Treasury imposed sanctions on 14 Iraqi banks in a crackdown on Iran's dollar transactions.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-07-24 02:50
Share
Font
Shafaq News/ The Finance Committee in the Iraqi Parliament will host, on Monday, the Governor of the Central Bank, Ali Al-Alaq, regarding the significant rise in the exchange rate of the dollar against the dinar.
A parliamentary source told Shafaq News agency that the Finance Committee in the Iraqi Parliament is hosting, this afternoon, the Governor of the Central Bank, Ali Al-Alaq, in order to discuss the significant rise in the dollar exchange rate and the bank's procedures and plans to counter this rise.
During the past two days, the exchange rates of the US dollar against the Iraqi dinar increased dramatically, in the Baghdad markets, and in Erbil, the capital of the Kurdistan region, after Washington imposed sanctions on 14 Iraqi banks.
In this context, Moeen Al-Kadhimi, a member of the Finance Committee, told Shafaq News agency, "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-Kazemi added, "But there are other countries from which Iraqi merchants import, and the US sanctions prevent sending these remittances, which forces these merchants to obtain dollars from the parallel market, which leads to the dollar's price remaining high in this market, and with the recent measures of the US Federal Reserve not to deal with a number of private banks, this had an impact on the rise in the price of the dollar, to reach 155."
And on 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 Ministry of Finance during the next week, to find out the real reasons for the inability to control the parallel price."
Last Wednesday, the US Treasury imposed sanctions on 14 Iraqi banks in a crackdown on Iran's dollar transactions.
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