Iraq to peg the dinar to US dollar

8/13/2023 6:41:53 PM
Fluctuations in Iraq’s currency value has worried businesses in the country.

A member of the Iraqi Council of Representatives Bryar Rashid said that efforts to stabilize the exchange rate of the dinar against the dollar continue and the efforts of the central bank will have their effect.

He added that in a meeting with the governor of the Central Bank of Iraq, they are working to stabilize the value of the dinar in two ways, first is to facilitate businesses having access to liquid assets and tighten border points and eliminate dollar smuggling.

The Iraqi parliament today met to discuss the volatility of the dinar against the dollar, and they welcomed the Governor of the Central Bank and explained the reasons for the volatility of the dinar and their efforts to stabilize it.

The governor of the central bank revealed that the work of the central bank to stabilize the value of the dinar continues.

He said that the government has established coordination with the Kurdistan Regional Government (KRG) to facilitate the access to the currency exchange offices, tighten the border checkpoints and prevent the smuggling of dollars.

They also discussed a new measure to provide dollars for tourism, health and education to Sulaimani province at a fixed rate.

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