The [dinar exchange] rate is set under the Central Bank law of 2004…This time the decision was taken with the cabinet’s recommendation. Parliament cannot simply repeal a rate. What it has is the budget law, which names the rate the state will use…Parliament’s speaker called the decision “irreversible,” and the bank’s position…was that 1,500 is fixed…No central bank announces its next move, and a rate set under the bank’s own law can be changed…on the day the bank decides to…On September 5th it denied any change to the rate. A month later the rate was 1,500. In 2020 it promised that a rate change would happen once…It has moved the rate twice since, once in each direction…So Iraq has stepped the dinar down and then back up within the last 6 years. Anyone who tells you that never happens is wrong, and anyone who tells you a rate is permanent because an official said so has not read this bank’s record. :Reset Intelligence
