Iraq's central bank has no future plan to change exchange rate - state news agency

Iraq's central bank has no future plan to change exchange rate - state news agency

To see this article in full and more go to: My FX Buddies Blog

A new statement by the Central Bank of Iraq about the dollar exchange rate and the possibility of reducing it to 120 thousand

link

Today, Sunday, the Central Bank of Iraq confirmed that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic .circumstance is the main criterion for changing the exchange rate



Deputy Central Bank Governor Ammar Khalaf said in a statement to the official agency, "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 added that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3 or 5 years, and it is the economic conditions that ".determine what is the appropriate decision that fits the time period at the time



He stressed that "the exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks about changing the exchange rate, but currently there is no justification or need to modify it," explaining, that "monetary policy, one of its advantages is flexibility in general, It is not good to ”.change the exchange rate quickly because it confuses the markets and weakens the economy