WOTS THU AUG 26 21 Raising the price of the dollar against the dinar increases the suffering of Iraqis

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Raising the price of the dollar against the dinar increases the suffering of Iraqis

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Decreased purchasing power amid difficult living conditions

The rise in the price of the US dollar against the Iraqi dinar exacerbated the suffering of the people of Mesopotamia, which prompted



citizens to austerity to manage their affairs, amid difficult living conditions.

Increasing the selling price of the dollar

And the Central Bank of Iraq decided last December to raise the price of selling the dollar to banks and exchange companies to 1460



dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration in oil prices, and the Central Bank attributed the main reason behind the devaluation of the dinar to bridge a gap Inflation in the 2021 budget after the collapse of global oil prices, which is a major source of Iraqi financial resources, and he stated that “the financial crisis that Iraq was exposed to due to the Corona pandemic led to a large deficit in the general budget,” and he pointed out in his statement that the purchase price of one dollar from the Ministry of Finance. Finance will be 1450 dinars, while the price of selling the dollar to banks through the foreign currency sale window is 1460 dinars.

And the Parliamentary Finance Committee revealed earlier, that the exchange rate will remain at its current position during the next five

years.

Low purchasing power