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Parliamentary Finance excludes raising the price of the dollar against the dinar to compensate for the decline in oil revenues


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Parliamentary Finance excludes raising the price of the dollar against the dinar to compensate for the decline in oil revenues

Editing date: 11/10/2020 9:05 • 90 times read
 

A member of the Parliamentary Finance Committee, Jamal Cougar, ruled out the government's move to raise the exchange rate of the dollar against the dinar in order to compensate for oil losses due to global price drops, pointing out that the central bank has a study and control over exchange rates.

Cougar said to "Where News", "The government's raising of the exchange rate of the dollar against the dinar is unthinkable and excluded, because the central bank has a sober study in this regard."

He added that "the central bank administration does not support the proposal to raise the dollar exchange rate at all, and has a set of reasonable reasons and justifications to keep the exchange rate at its natural limits."

Cougar ruled out that "the government or the central bank in 2021 will choose to raise the exchange rate of the dollar against the dinar."
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Expectations of a possible decrease in the value of employees' salaries and a warning of 4 serious repercussions

12 hours ago
026 less than a minute

The eighth day electronic newspaper

Today, the economic expert, Abdul Rahman Al-Mashhadani, saw, on Saturday, October 10, 2020, that converting the exchange rate from the dinar to the US dollar is a natural step for most countries that witness political, security and economic turmoil.

Al-Mashhadani said in an exclusive interview followed by the eighth day that “the government's recent statements have focused heavily on the move to change the exchange rate, because this will reduce the value of the Iraqi dinar and provide the government with additional revenues as a result of receiving oil revenues in US dollars and then sell them to the Central Bank to get The Iraqi dinar to pay the salaries of employees and retirees.

He added that "this step has negative effects on the other hand, as the salaries of employees will decrease by the increase, and this means that the employee who receives $ 1000, his salary will be $ 800, and this will affect the real income of individuals."

Al-Mashhadani continued, "The second negative matter is by step changing the exchange rate, as the prices of imported goods will rise, especially since Iraq relies heavily on import to cover the needs of the local market, and this will affect the purchasing value of the individual."

 

He pointed out that "the failure to study the step of changing the exchange rate of the dollar will greatly mislead society, and will lead to an increase in crime, extortion, and even kidnappings, as well as the expansion of the poverty line in society and may reach more than 70% of the total number of citizens."

A member of the Parliamentary Finance Committee, Representative Jamal Cougar, commented on Thursday (10/8/2020), according to what was reported by some media regarding the existence of an intention by the Ministry of Finance to change the exchange rate of the Iraqi dinar against the US dollar, between the central bank’s position on going towards This option.

The source is Baghdad today

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