US dollar exchange rate above 150,000 IQD is violation of the law: MP

Iraq 07:19 PM - 2021-06-09

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An MP in the Iraqi Council of Representatives said Wednesday that the rise in the exchange rate of the dollar above 150,000 Iraqi dinars was a legal violation, adding that the Council of Representatives would host the federal government's finance minister to find out the reasons for the dollar's high exchange rate.

 

"The rise in the exchange rate of the dollar to 150,000 Iraqi dinars is a legal violation," said Arazu Mahmoud, MP from the Patriotic Union of Kurdistan bloc, said in a special statement to PUKmedia.

 

"On this issue, we have been invited to host the minister of finance in the federal government to the Council of Representatives for the purpose of knowing the high exchange rates of the dollar against the Iraqi dinar," she said.

 

Ramzi Komshini, an economist and owner of a stock exchange office in Erbil, told PUKmedia that the dollar's exchange rate against the dinar had been reduced by the central bank of Iraq. 

 

He added: The decline in the proportion of hard currency in the markets with increased demand for the dollar is working to increase the price of its sale against the Iraqi dinar, explaining that the rise in the exchange rate of the dollar against the Iraqi dinar has a direct impact on employees and earnings, especially those who receive their salaries and wages in Iraqi dinars.

 

 

 

PUKmedia