Government to make cheaper dollar sales to merchants, lawmaker says

Shafaq News/ Prime Minister Mohammad Shia al-Sudani's cabinet is deliberating a proposal to make cheaper dollar sales to merchants in a bid to control the forex market, lawmaker Jamal Kocher said on Saturday.

"Merchants and investors need the dollar, indeed. The proposal is to sell them dollars at a custom rate," the member of the parliament's finance committee told Shafaq News Agency, "the official rate is 1,470 dinars to 1 dollar, but the demand is scarce. Selling the dollar at a rate of 1,350 dinars to 1 dollar will boost the economy."

"Al-Sudani presented this proposal in a cabinet meeting," he concluded, "the central bank's governor approved the notion."