Al-Alaq had held the position for about six years, between 2014 and 2020. After his appointment, Al-Alaq pledged “a time limit to return the exchange rate to its normal position”.
Al-Sudani’s decision to reassign Al-Alaq has come in forecast of demonstrations called by Iraqi activists, in front of the Central Bank of Iraq, to denounce the depreciation crisis of the dinar against the dollar, which has reached its peak at 1,660 dinars per dollar, a figure never recorded in Iraq for nearly 19 years.
The Lebanese also yesterday blocked the road in front of the building of the Central Bank of Lebanon in Beirut, in protest against the deterioration of living conditions and the high exchange rate of the dollar. Protesters burned tires in Hamra Street in Beirut, amidst army reinforcements in the vicinity of the bank.
Yesterday the exchange rate of the dollar in the parallel market registered for the first time in the history of Lebanon 56,000 pounds, and fuel prices also increased, so much so that the price of each can (20 litres) of diesel and petrol reached more than even a million pounds for the first time.
Protesters criticized the circulars once in once issued by the governor of the Central Bank of Lebanon, Riad Salameh, which eroded the savings of depositors in banks, inviting citizens to step down in road and close them.
Protesters also blocked roads in the north, south and east of the country with trucks and cars to protest the high dollar price and deteriorating conditions.