Iraqi Central Bank Governor says he has no intention of changing the dollar's value because the government's revenue has increased by more than 30 trillion dinars due to the depreciation of the country's currency.
In an interview during the "Al-Rafidain Forum for Dialogue", Iraqi Central Bank Governor Mustafa Ghalib indicated that "we are working on a new currency, a 20 thousand dinars banknote, after studies in order to keep pace with the requirements and match the neighboring countries, and we will start announcing it after completing their requirements," noting that "there is no intention to reduce or change the dollar exchange rate."
He added that since the change in the dollar's value, about 30 trillion and 500 billion dinars had increased government revenue and oil revenue. In the 2021 budget law, the Iraqi parliament voted to set the dinar price at 1,450 dinars per dollar. Now one US dollar is traded for around 1,480 dinars on the market.
Concerning the bank's branches, he said, "We have a branch in Basra that covers the southern region, and in Mosul to cover the north, and a branch in Erbil, and we are working to set up a branch in Najaf, but we need a second land to build safes and annexes, and we will start completing the procedures for establishing this branch to cover the middle Euphrates."
Regarding the removal of zeros on Iraqi bills, the governor said the removal of zeros on the Iraqi dinar requires legislation.