Parliamentary Finance Committee recommended control procedures to stabilize the Dollar exchange rate

Baghdad-INA
 
The Parliamentary Finance Committee recommended on Sunday, imposing supervisory measures to control US dollar exchange rate in the market, while suggesting that the current monetary policy may be reconsidered.
The committee rapporteur, Ahmed Al-Saffar, stated to the Iraqi News Agency (INA), that the government changed the dollar exchange rate due to the financial crisis that faced the government in paying the salaries of employees and the lack of sufficient funds to cover the necessary needs, as well as the drop in oil prices at the time.
 Al-Saffar mentioned that the financial situation is changed now after the rise in oil prices, which reached $73 per barrel, therefore the reasons behind changing the exchange rate are no longer exist.
We must take control measures to stabilize the dollar exchange rate, and prevent the manipulation by banks and exchange offices, especially since the Iraqi economy depends heavily on the dollar and it controls the level of prices in the market, Al-Saffar added.
In a related issue, Al-Saffar explained that the observation process by the legislative authority is carried out through hosting or interrogation, as well as by requesting special reports for exchange operations, and the most important reports are the final accounts, pointing out that the final accounts do not exist from 2014 till now, and the hosting and interrogations in the parliament are not achieved.