Emergency Meeting held by the Finance Committee to Control the U.S $ Price

Emergency Meeting held by the Finance Committee to Control the U.S $ Price

A member of the Iraqi Parliamentary Finance Committee Husam attended a emergency penal meeting of Iraqi Finance Committee, to control crisis of rising the U.S dollar exchange rate against the Iraqi dinar. Hasam further said in his press statement that Iraqi Parliamentary Finance Committee hold an emergency meeting yesterday, to control the unexpected rise in the U.S dollar prices against the Iraqi dinar. He also said that this sudden rise is due to mismanagement in demand and supply, which resulted as rising demand of U.S dollar in the Iraqi domestic markets. The instructions issued by the Governor of the Iraqi Central Bank regarding customs and taxes also affected the Iraqi local markets. There are some traders working to bring up the exchange rate by increasing from material income in order to manage the expenses of Iraqi government and Iraqi people.

He further added that Iraqi domestic markets are raising the U.S dollar exchange rate against the Iraqi dinar and it went up at 1400 Iraqi dinars per U.S dollar. Now the Iraqi dinar official rate is at 1166 per U.S dollar, it means exchange rate raised 20 percent with 234 dinars compared to the official Iraqi dinar price. A government source also informed that the Iraqi government has taken a number of steps to decrease the high price of U.S dollar including increase in the cash sales by the Iraqi Central Bank and opened new windows in the government banks to sell the U.S dollar. Most of the economic and financial experts believe that this sudden rise in the U.S dollar price is due to the Iraqi domestic markets.

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