Abu Dhabi:The Ministry of Trade affirmed its commitment to prevent the misuse of exchange rate adjustments to impose unjustified price hikes on citizens. It stated that legal action would be pursued against those engaging in price manipulation and monopolistic practices.

According to National Iraqi News Agency, Ministry Advisor Mohammed Hanoun emphasized that ensuring food security and protecting citizens’ purchasing power are fundamental priorities for the Ministry. The Ministry has the necessary regulatory and supply-related tools to monitor market activities and, in coordination with relevant authorities, intervene to prevent exploitation of the dollar exchange rate adjustment.

Hanoun highlighted that the government’s economic and financial decisions aim to address financial obligations, secure entitlements for employees and citizens, and maintain the state’s ability to fulfill its duties. These decisions must be considered within their broader financial context, with measures in place to mitigate any negative impact on citizens’ livelihoods.

He stressed that exchange rate adjustments should not serve as an excuse for price increases, warning that any exploitation by merchants or monopolists would be closely monitored. Protecting the market involves distinguishing between legitimate price hikes due to import, transport, and processing costs, and artificial increases intended for illicit profit.