“Influential Figures” Manipulating Dinar Exchange Rate

By John Lee.

An MP and member of the Parliamentary Economic and Investment Committee, Aziz Sharif al-Mayahi, has demanded that the Iraqi Central Bank dismiss and replace some “influential figures” in the Bank who allegedly manipulate the exchange rate of the Iraqi dinar against the US dollar.

The article in AIN refers to what it calls an “unreasonable rise (sic) in the exchange rate of the Iraqi dinar”.

Mayahi said “The Iraqi Central Bank is not serious in coping with this problem because it adopts routine and useless measures in this regard.”

The Head of the Central Bank, Sinan Shibibi, attributed the weakness of the Iraqi dinar to the weakness of the local production and the lack of Iraqi exports (except oil), in addition to weakness of the government’s efforts to attract foreign capital, and the unstable political situation internally and regionally.

(Source: AIN)

One Response to “Influential Figures” Manipulating Dinar Exchange Rate

  1. Jaydee July 23, 2012 at 4:36 pm #

    C’mon, “unreasonable rise”? The dinar isn’t worth anything now! The CBI and the Iraqi government are dragging their feet.