11:48 PM [millionday] Anticipating Financial Committee member MP, Kurdistan Coalition, Delair Qadir, Iraqi dinar exchange rate improved significantly against the US dollar after some measures have been taken by the Central Bank of Iraq and of the provisions of Chapter VII.
Qadir stated, “The Central Bank would take new procedures and controls which will support the stability of the Iraqi dinar exchange rate against the US dollar, which would be a correction of errors that occurred during the past period and the Bank that led to the relatively low price of the dinar.”
He further added, “The departure of Iraq from Chapter VII of the UN contribute significantly to support the dinar exchange rate because it will stimulate trade and economic movement of the country with various countries of the world so it will reflect positively on the dinar exchange rate against foreign currencies.”
Recently, the Central bank of Iraq has stated that it is considering adopting some new plans and procedures to support and stabilize the Iraqi dinar exchange rate against the US dollar.
In recent times, sharp drop in the price of Iraqi dinar has been recorded. Due to the hike of the price of essential commodities, which was the aftermath of the declination of exchange of Dinar against dollars, Central Bank of Iraq was urged by several groups of the people of Iraq to take swift measures to stable Iraqi currency.