Baghdad / NINA / Prime Minister Ali Al-Zaidi announced that the government is working to restore the dollar exchange rate to 155,000 dinars per 100 dollars—or even lower—by increasing the supply of US currency and securing additional tranches to bridge the exchange rate gap.


In a televised interview with the Iraqi News Channel today, Friday, Al-Zaidi stated that the government has already increased the supply of cash dollars from $140 million to half a billion dollars per month. He added that they are working to raise this figure to over $1 billion per month, with the goal of securing tranches totaling $2.5 billion to address the exchange rate gap.


He further noted that US concerns regarding the potential flow of dollars to certain factions have impacted the volume of cash supplies, adding that the government is seeking to increase these supplies to help narrow the gap between the official exchange rate and the parallel market rate.


Assessing the exchange rate policy, Al-Zaidi remarked that the previous decision to devalue the dollar was ill-advised; the resulting price differentials did not benefit the average citizen as intended, but instead ended up in the hands of speculators.

He explained that an increase in the exchange rate could support the industrial and agricultural sectors and enhance the competitiveness of Iraqi products. He further noted that the influx of surplus production from certain neighboring countries into the Iraqi market weakens the ability of local products to compete with imported goods. / End




ليصلك المزيد من الأخبار اشترك بقناتنا على التليغرام