Iraqi Central Bank Governor said that the Iraqi dinar exchange rate rose
against the dollar by 20% over the past 16 months due to monetary policy
of the Bank.
Alshibibi explained in a press conference in Baghdad, on Sunday, that
the exchange rate could not be determined because it depends on the
evolution of inflation in the country and the supply and demand to buy
the dollar. He added that the dinar's exchange rate changes due to the
Central Bank's policy which is concerned with the short economic
variables, pointing out that Iraq has suffered over the past three or
four years of inflation reached 65%, according to reports of the Central
Agency for Statistics.
Alshibibi called on the Iraqi government to maximize economic growth
through taking care of industrial and agricultural sectors to cover the
growth and reduce inflation. He explained that there are two types of
economic growth: the first is monetary growth through higher fiscal
revenues and the second is the real growth through the provision of
services by relying on economic development.
