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Saturday, April 11, 2015

The CBI to Take Some Major Steps for Iraqi Dinar Stability: Finance Committee, 11 APRIL

Iraqi Dinar 123 News: – A Parliamentary Finance Committee member MP Masood Haider said that the lower fiscal revenue from oil sales was the main reason for the downfall in the Iraqi dinar exchange rate against the U.S dollar. The crude oil sold at more than 100 dollar per barrel, but now the oil price decreased almost 50 percent, which is affecting the exchange rate of Iraqi national currency.
He further added that the Finance Committee also discussed the Governor of the Iraqi Central Bank about the major reasons which caused downfall in the Iraqi dinar exchange rate. We also discussed about the most perfect solutions in order to stabilize the Iraqi dinar exchange rate against most of the foreign currencies. He said that the Central Bank of Iraq will take some new measures for the stability of the Iraqi currency against the U.S dollar. The Iraqi dinar exchange rate declined significantly during the last period against most of the foreign currencies exchange rate, at that time the Iraqi dinar price was at 1170 Iraqi dinars per U.S dollar which reached at more than 1300 Iraqi dinars per U.S dollar.

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