Maliki: Re-Evaluation of the Iraqi Dinar is Predetermined, and is Linked to Study the Economic Situation
March 2, 2010 · Posted in NEWS

Prime Minister Nuri al-Maliki, Sunday, that the decision to re-evaluate the Iraqi dinar is linked to study the economic conditions that ensure that the process of strengthening, pointing out that the strengthening of a currency is settled to the presence of elements of the force increase revenues and the evolution of the economy.

This came during the response al-Maliki on a set of questions within his window the media at the National Center for Information, on the expectations of improved access or re-evaluation of the value of the Iraqi dinar in the future look like.

The al-Maliki, saying that “our study is linked to the economic conditions that guarantee that the process of strengthening the Iraqi dinar, but it discounts in order to strengthen the presence of elements of the force to increase revenues and the development of the economy.”

But Maliki, at the same time pointed out that the government “will not be rushed and will work to find all the safeguards for this procedure in order to succeed, and the central bank in charge of the work of the study of the subject and will give his decision soon.”

And suffering of the Iraqi dinar exchange rate of depreciation of the pound against foreign currencies due to decades of wars, economic blockade, which has fallen at a rate of three dollars for every dollar the late seventies and eighties of the last century, to three thousand dinars per dollar after after Iraq’s invasion of Kuwait in the last century Tsainat and the United Nations imposed the embargo, which lasted for 13 years.

And the exchange rate after the year 2003 to reach today to 1170 dinars per dollar, thanks to central bank policy based on a daily auction to sell the dollar in more than five years, a policy criticized by many economists as it gives a value that is true of Iraqi currency.