MP Mohammed al-Bayati called on Sunday for strict measures to stop speculation in Iraq’s parallel dollar market and protect essential goods from price increases following the government’s decision to raise the dollar exchange rate.
Al-Bayati told dinaropinions.com that the government had offered several reasons for raising the rate to more than 150,000 dinars per $100. However, he warned that the decision would affect markets and could push prices higher.
He acknowledged that Iraq is facing serious financial and economic challenges but said the government must prevent currency speculation from driving the parallel-market exchange rate even higher and placing more pressure on citizens.
Al-Bayati also called for immediate measures to secure supplies of essential food products and prevent price increases. He stressed that medicine prices must also be addressed to protect families from additional financial pressure.
He warned that if rising prices cause serious harm to large sections of Iraqi society, he and other lawmakers would take a clear position and consider different options.
He added that their response would depend on actual market conditions and whether the exchange-rate decision directly harms citizens.
