U.S Dollar will Come Back to Its Normal Position: Najiba Najib

A member of the Iraqi Finance Committee Najiba Najib said in an interview with press that the U.S dollar price would go back to its previous prices and will be reached at 1200 Iraqi dinars per U.S dollar. She further added that the Iraqi Central Bank should take some extra measures and implement its monetary policy to strengthen the Iraqi dinar in the local and international market. Najiba Najib further added in her interview that we should eliminate all the factors that are involved in raising the U.S dollar exchange rate against the Iraqi dinar. It is also important that Iraqi Central Bank is getting 5 percent Komanat tax and 3 percent Komanat markup to the banks. This step is indicating that after getting taxes would reduce 80 percent rise in the U.S dollar exchange rate against the Iraqi dinar.

Najiba also said that downfall in the global oil price per barrel resulted as a lack of revenues and it decreased from 111 U.S dollars to 60 U.S dollars per barrel. The increasing instability in the Iraqi security situation in most of the Iraqi provinces also increased the demand of U.S dollar from traders. She added that Iraqi Central Bank could not meet the market requirements and could not manage the demand and supply in the Iraqi domestic market. Now the Iraqi Central Bank has adopted mechanisms to reduce the U.S dollar exchange rate against the Iraqi dinar.

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