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Showing results for tags 'iraq has not floated its local currency'.
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An Iraqi official reveals the fate of the dollar exchange rates during the next year 2021-12-08 04:20 Shafaq News/ An official in the Iraqi government confirmed, on Wednesday, that Iraq has not floated its local currency, indicating that the US dollar exchange rates will remain stable for the next year 2022. The official source told Shafaq News Agency, "Dollar prices will remain stable for the next year 2022, as long as the dollar price will remain unchanged in next year's budget," noting that "Iraq has not floated its local currency." The source, who chose not to reveal his name, added that "the bank's continued sales of the dollar through its daily auction maintains the stability of the dollar, explaining that it will intervene if it rises to more than reasonable." He continued, "The dollar's decline or rise will be affected by supply and demand in the central bank auction, which will usually be limited." The source pointed out that "the central bank's cash sales are sufficient to cover the local markets by its dealers and citizens," adding that "the unstable security and political conditions will negatively affect the dollar's prices, albeit in a limited way as well." The Central Bank of Iraq decided to adopt the new exchange rate of the Iraqi dinar against the US dollar at (1450 dinars to one dollar), and the government evaluated the 2021 budget under the new exchange rate of the dinar and canceled the old exchange rate, which was up to (1,190 dinars). It is noteworthy that the price of the dollar rises and falls from time to time, but it did not fall less than what the Central Bank set at 145 thousand dinars against 100 dollars, and did not rise to more than 150 thousand dinars against 100 dollars, while the prices recorded in the main stock market in Baghdad today 148,050 dinars each 100.
