PM Adviser: CBI measures reduced the dollar by 60 points

politics

31-07-2023, 22:15

INA - BAGHDAD

Adviser to the Prime Minister Fadi Al-Shammari confirmed on Monday, that the Central Bank of Iraq's measures reduced the dollar by 60 points against the dinar.

"The rapid measures that Prime Minister Muhammed S. Al-Sudani directed to implement, contributed to gradually rebalancing the dinar exchange rate. After a series of precise and effective measures from the Central Bank, the dollar was reduced by 60 points against the Iraqi dinar," said Al-Shammari, in a statement received by the Iraqi News Agency - INA.

He added, "The Iraqi government seeks to control the rhythm of the financial market, encourage traders to engage in legitimate financial transactions, and ease administrative procedures," expecting that "decisions to reduce taxes will contribute to increasing the value of the Iraqi dinar during the coming period."

"CBI has procedures for transferring 116 exchange companies that were receiving their weekly shares of dollars from the punished banks to other banks and easing the imposed taxes. It has also diagnosis of manipulators and contributed effectively to the stability of the dinar's exchange rate," he included.