A joint committee comprised of members from the planning and finance ministries and the Iraqi Central Bank has been formed by the Iraqi government in order to maintain the fluctuations of Iraqi dinars and adjusting its value against the world currencies.
It has to be noted that the price of Iraqi dinar has recently touched its record lowest value and for that country’s economy has moved up to a position of real concern. As Iraq is a country, which mainly depends on the import of commodities, price rise of such imported commodities was the aftermath of value decline of Iraqi dinars.
Iraqi government economic advisor Salam al-Quraishi stated that the committee will take all due measures that are required to maintain the fluctuation in the value of Iraqi dinars.
Stabilizing the value, as well as uplifting it gradually – will be the aim of the committee.
He also added that this will be done by supporting the value of the dinar with gold and preventing traders and banks from manipulating the dollar and euro rates of exchange.
Updated 13 Jun 2013 | Soruce: Al Shorfa | By S.Seal