Today, Sunday, the official Iraqi News Agency quoted a deputy governor Central Bank of Iraq Ammar Khalaf, that the “Central” does not see any justification for changing the exchange rate of the dinar, while indicating that the economic situation is the main criterion in this.
He also confirmed that there are no future plans to do so in the next three to five years.
The Deputy Governor of the Central Bank said, “The exchange rate at the present time – in our opinion as a monetary authority – there is no justification for changing it,” explaining that “changing the exchange rate remains within the monetary authority’s policy and according to circumstances.”
He pointed out that “during the years from 2004 until now, the exchange rate has changed more than once, depending on the circumstances, whether to rise or fall.”
He added that “the economic circumstance is the main ruler, and there is no future plan to change the exchange rate.”
He also explained that “monetary policy, one of its advantages is flexibility in general, and it is not good to change the exchange rate quickly because it confuses markets and weakens the economy.”
Statements by deputies in the Iraqi parliament regarding the possibility of adjusting the exchange rate of the Iraqi dinar once morest the US dollar, raised fears of the impact of this on the local market, which depends on imports from abroad.
Yesterday, Saturday, the dollar exchange rates in Iraq were stable, and selling prices were 1484 dinars per dollar, while buying prices were 1483 dinars per dollar.
The purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars, while the selling price to the citizen was 1470 dinars per dollar.
