Iraq Adjusts Dollar Rate Amid Parliamentary Concerns
The Central Bank of Iraq announced the implementation of a decision to modify the exchange rate of the Iraqi dinar against the US dollar. The purchase rate has been set at 1,500 dinars per dollar, while the selling rates are 1,510 dinars for banks and 1,520 dinars for the public, in order to meet the needs of the economy and finance. The bank emphasized the necessity of updating banking systems and conducting transactions according to the new rates. There were also warnings about the potential consequences of fixing the exchange rate at 1,500 dinars, with lawmakers calling for consideration of its impact on purchasing power. It was noted that this change could increase government revenues by approximately 19 trillion dinars, but it also raises concerns about economic repercussions and interventions in monetary policy.
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