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The exchange rate of the dollar against the dinar in the local markets for today

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The exchange rate of the dollar against the dinar in the local markets for today

6,069 Economy 10/18/2020 10:05  am
Baghdad today - Baghdad


The Iraqi Political Economic Center announced today, Sunday (October 18, 2020) the exchange rates of the dollar against the dinar in the local markets.

In a brief statement received by (Baghdad today), the center stated that "the selling price of the dollar is 126,500 dinars, while the dollar's purchase price is 125,500."

Earlier in the day, the Central Bank of Iraq issued a statement on reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that these news represent the viewpoint of those who stated it, not the bank.

The media office of the Central Bank stated in a statement received (Baghdad today), that “the Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank.

This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily)."


According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that

"its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through."

The statement continued, "This bank hopes that the media will exclusively use the sources of the central bank in this regard."

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges.

After that, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, called for the dismissal of the central bank governor, against the backdrop of the high exchange rate of the dollar against the Iraqi dinar.

Al-Saeedi said, in an interview with (Baghdad Today), that "the first task of the leader of monetary policy in Iraq, which is the central bank, is to preserve the value of the Iraqi currency, and the bank will bear what happened today in terms of confusion and instability after the high exchange rate of the dollar against the Iraqi dinar.".

He added, "There is an agreement to reduce the value of the Iraqi dinar against the dollar, in order to reduce the state's general federal budget deficit, considering the high exchange rate of the dollar against the dinar will reduce the deficit, and this is done through the official price and not the parallel, but what happened otherwise."

He explained, "The Central Bank used the policy of what we call the new monetary issuance or the financing of inflation by printing a new currency to fill the deficit, but this process will have negative consequences for the citizen," indicating that

"what happened today achieved the goals of some bank managers and returned benefits to them and currency traders." Participants in the currency auction, to get big profits."

A member of the Parliamentary Finance Committee continued, "The step taken by the bank today is one of the steps of corruption to destroy the Iraqi economy, and if he is not aware of it, then the governor of the bank should be dismissed because he is not specialized in these issues and is also not competent to manage the country's financial affairs."

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