The Parliament is committed to the government's financial policy..no change in the dinar's price in the budget, MP says

Shafaq News/ The Parliamentary Finance Committee responded on Thursday to the demands of Iraqi parliamentarians regarding the devaluation of the dinar in the upcoming budget bill, asserting that determining the value of the dinar is only within the government's powers.

Committee member, MP sherwan Mirza, told Shafaq News agency, "the exchange rate is fixed. It is determined by the government's financial policy," Adding, "the MPs requests to reconsider the price tag are only requests. The Finance Committee does not possess the powers of changing the exchange rate."

Iraq's central bank increased the sale price of U.S. dollars to banks and currency exchanges to 1,460 dinars, from 1,182 dinars, seeking to compensate for the decline in oil revenue due to low crude prices.

However,  members of the Iraqi Parliament had submitted a request to increase the exchange rate of the U.S. dollar to 130,000 Iraqi dinars for every 100 dollars in the 2021 General Budget bill; MP Mazen al-Feyli stated to Shafaq News agency earlier this month.