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Iraqi Finance Minister Supports Floating Exchange Rate for Dinar
(MENAFN- Iraq Business News) By John Lee.
Iraq's Deputy Prime Minister and Finance Minister has reportedly said that he supports a floating exchange rate for the Iraqi currency, the dinar.
Shafaq quotes Ali Allawi (pictured) as telling a press conference on Thursday that the Central Bank of Iraq (CBI) intervenes occasionally to keep the dinar in the range of plus or minus 5 percent, adding:
"The exchange rate is not sacred as it was before. Fixing the rate leads to the accumulation of economic problems and explosion later."
(Source: Shafaq )
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