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An Iraqi alliance demands the government to restore the dollar exchange rate

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Al-Quds Al-Arabi: The "National Approach" coalition in Iraq considered, yesterday, Thursday, the previous government decision to raise the value of the dollar against the Iraqi dinar, the most prominent reasons for the high rates of poverty in Iraq, which exceeded 30%, calling on the federal government to restore the exchange rate to what it is. It had been in the past, and to reverse its decision, which he described as “blundering.”
And a statement by the coalition said yesterday, "The complications and effects of the decision to raise the unfair exchange rate of the dollar are still continuing and increasing, and its shocks are intensifying on the majority of the Iraqi people," noting that "the Ministry of Planning indicated terrifying numbers and percentages in the escalation of poverty and unemployment rates, which amounted to 31 percent, out of the total The people, and stressed that one of the most important causes of these tragedies is the decision to raise the price of the dollar.”

He continued: “We have explained on more than one occasion the error of this decision and that the justifications for its marketing are flimsy and invalid, whether they are justifications for filling the budget deficit, as the selling price of oil has risen to nearly $84 per barrel, or justifications for combating the smuggling of hard currency. The Central Bank’s sales of the dollar in the currency auction did not drop below its selling levels before the decision so that we believe that the fruit of the fight against hard currency smuggling has been achieved. On the contrary, the rates of the Central Bank’s selling of the dollar began to exceed even what it was sold before the unjust decision to raise the price of the dollar.