Authorized source: The current exchange rate has achieved many positive results
February 20, 2022
Authorized source: The current exchange rate has achieved many positive results
An authorized source in the Central Bank of Iraq stated today, Saturday, February 19, 2022, that the current exchange rate has achieved many positive results, most notably reducing the state’s general budget deficit to achieving a surplus at the end of 2021 and giving local producers and investors an essential competitive advantage with imported goods.The source said: The repetition of changing the exchange rate within short times without studying by the concerned authorities leads to economic recession, confuses the work of local markets, increases speculation on foreign currency, and wastes the gains made by the current exchange rate. Despite the rise in global oil prices of unstable nature, there is no connection between this rise and the objectives and results of changing the exchange rate, and that the current increase in oil prices will enable the Iraqi government to rebuild the Iraqi economy properly and build sufficient financial buffers to face any future fluctuations in international oil prices.Central Bank of IraqMedia Office20 Feb 2022
