Iraq News - Local News - Baghdadpost

Iraqis protest after currency value slashed


Hundreds of angry Iraqis protested on Monday in several cities against a currency devaluation that has slashed their purchasing power amid a pandemic-fuelled economic crisis.


The Central Bank of Iraq (CBI) at the weekend devalued the currency by over a fifth against the US dollar, officially re-pegging the dinar at a bank rate of 1,460 to the greenback.


On Monday, hundreds gathered in Baghdad’s Tah­rir Square, demanding the government change tack, furious at the first devaluation in a half-decade. “The government should collapse before the dinar,” one sign held by a young protester read.


Many of the protesters were elderly, who said the value of their pensions had been cut.

Last Modified: Tuesday، 22 December 2020 01:39 PM