The increase in the exchange rate in Iraq negatively affected life

While the Central Bank of Iraq sets the exchange rate at 1,470 dinars to the dollar, 1 dollar is trading at 1,590 to 1,750 dinars on the black and free market.

The depreciation of the local currency against the US dollar cannot be avoided since mid-January.

Iraqi Prime Minister Muhammed Şiya es-Sudani dismissed Central Bank Governor Mustafa Galip Muhlifi on January 23 due to rising foreign exchange and appointed Ali Muhsin Allak as proxy, but this change in roles did not stabilize the lot. .

The AA team spoke to Iraqis who complained about the high cost of living in Kirkuk caused by the increase in the exchange rate.

Ali İsmail, who runs a market in Kirkuk, said that with the depreciation of the Iraqi dinar, the prices of all goods without exception increased.

İsmail said: “The cost of living started to take its toll. This began to affect low-income families more. Especially the increase in the price of food affects citizens a lot, ”he said.

Noting that there are hundreds of thousands of people in the country trying to earn a living by working day jobs, İsmail stated that the almost doubling in food prices is particularly challenging for this segment.

Hazım Fazıl, who was in that section, said that now they have a hard time meeting even the simplest needs at home.

Fazil said that since most dry foods are imported, he understands the rising prices of these products, but he could not fathom the rising prices of Iraqi-grown vegetables and fruits.
Fazıl, who wanted the state to support low-income families and the unemployed, said that while the price of all products in the bazaar increased, the wages of employees did not increase.

Iraqi, who also complained about the lack of price controls in shopping malls and outlets, urged the government to stand behind the people by launching inspections at such places.

“EVEN DURING THE EVENTS OF ISIS, IT WAS NOT SUCH”

Raad Hüseyin, a Kirkuk shopkeeper, summed up the extent of the cost of living in the country by saying: “Even during the incidents of the ISIS terrorist organization, such a situation did not occur.”

Hüseyin stated that although there is no war situation in Iraq right now, oil exports continue and there is stability in terms of security, as a citizen they cannot understand the depreciation of the dinar.

Expressing that he was most upset with low-income unemployed families with many children, Hüseyin noted that he was surprised that the government did not take serious action despite what happened.

“SALE STOPPED IMMEDIATELY”

Ali Hüseyin, one of the merchants at Kirkuk’s Grand Bazaar, said they were unable to work due to the increase in foreign exchange.

“Sales have almost stopped due to excessive price increases.” Hüseyin, adding that the measures taken by the government so far have been ineffective and inadequate.

The owner of the exchange house, Önder Şahin Kadir, stated that they were not satisfied with the rise in the dollar.

Stating that the fluctuation and rise in the exchange rate almost halted sales, Kadir stressed that they were concerned that the Iraqi economy would worsen if the government and Central Bank did not take serious action. (AA)