The IMF Loan Will Decrease the U.S Dollar Price in Domestic Market

The IMF Loan Will Decrease the U.S Dollar Price in Domestic MarketThe Parliamentary Finance Committee issued a press statement that new operations have started to manipulate prices of the U.S dollar and blamed that exchange companies and banks are at the back of this process. It was said that these operations will put the amount of loans into the pockets of mafia. Most of the economists predicted that these loans will decrease the exchange rate of the U.S dollar because it would create employment and a meaningful increase in the Iraqi production sectors. A member of the Parliamentary Finance Committee Majida Al-Tamimi said in a press statement that the U.S dollar exchange rate will be decreased significantly. She added that previous sudden rise in the U.S dollar price were due to involvement of many internal and external factors.

It is important that the auction sales of foreign currency at CBI and monetary policy are affecting the exchange rate of the U.S dollar. She added that Central Bank of Iraq has decided to impose some essential conditions on the exchange companies and banks that don’t sell the U.S dollars at the official exchange rate. She said that a number of exchange companies are selling the U.S dollars at more than its suggested official price. A deputy from the Liberal bloc said the many exchange companies and banks participated in the auction at Iraqi Central Bank. He pointed out that those companies managed in controlling the auction sale and the U.S dollar exchange rate and the decision of Iraqi Cabinet to limit the purchase of foreign currency would be more beneficial for the country.

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