Baghdad The Economic Expert, Maytham Al-Aibi, confirmed that the current exchange rate is important for maintaining foreign reserves.
He told the National Iraqi News Agency (NINA) that there is a shortcoming of some MPs in understanding the issue of the exchange rate, as there is a perception that changing it is related to the financial goal only, which is to reduce the deficit.
Al-Aibi added that the exchange rate is linked to a number of variables, including its preservation of foreign reserves and its relationship to improving competitiveness and the status of the balance of payments, as well as its role in raising the levels of output growth and its components, and then employment.
He explained that the rise or fall in the price of oil has nothing to do with raising or decreasing the value of the currency.
Source: National Iraqi News Agency