Is CBI making Iraqi Dinar official price at 1300 IQD/ U.S Dollar?

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The Iraqi Parliamentary Finance Committee issued a statement regarding a proposal submitted by a number of financial economists. Most of the financial economists proposed that the official price of Iraqi dinar currency should be at least 1300 Iraqi dinars per U.S dollar.

Some financial experts have suggested that Iraqi Central Bank will not be interested and probably would show fear in taking this kind of decision. The Iraqi Central Bank said that it would increase the inflation rate in the country. A large number of Iraqi dinar investors believe that this step would provide help in maintaining the Iraqi dinar exchange rate at a significant level for a significant amount of time against the U.S dollar.

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A member of the Iraqi Parliamentary Finance Committee MP Ahmed Al-Hajji said that some economists and experts have made a proposal and submitted to the Iraqi Central Bank to maintain the official price of Iraqi dinar at 1300 Iraqi dinars per U.S dollar in order to meet the current financial crisis in the country. But, the Central Bank of Iraq has rejected due to some major reasons and declared that it would increase the U.S dollar price against Iraqi dinar currency.

The Iraqi Central Bank also predicted that it would boost up the price of U.S dollar in Iraqi currency markets and it would reach at more than 1400 Iraqi dinars per U.S dollar. It would also increase the inflation rate in the Iraqi markets. Some dinar gurus also indicated that Iraqi Central Bank will take this decision in a couple of days, so it is the best time to Sell Iraqi Dinar and Buy Iraqi Dinar after the implementation of new proposal presented by economists. But, they have denied that there is any kind of Iraqi Dinar Revaluation in a couple of months due to current financial and security situation in the country.

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