On Wednesday, MP Muhammad Saadoun al-Sudani, leader of the State of Law Coalition, announced that the government will continue implementing economic measures to address the issue of the high exchange rate between Iraqi dinar and the United States dollar.
According to Al-Sudani, the current major obstacles for the government are linked to the steep value of the US dollar compared to the Iraqi dinar.
According to him, the US Federal Bank’s actions are a plot to weaken the government’s influence in regional and international affairs. This is because the government has been successful in attracting reputable international companies to undertake crucial service projects.
He mentioned that the Sudanese government is implementing financial measures to address the issue of the US dollar’s high exchange rate against the Iraqi dinar in the local market.
Last week, the US Treasury made a decision to prohibit 14 Iraqi banks from trading and selling hard currency. This led to an increase in the exchange rates of the dollar in local markets.