Central Bank Governor Denies Issuing New Currency and Reports Narrowing Exchange Rate Gap

Central Bank Governor Nizar Nasser Hussein denied today, Thursday, the circulating claims about issuing new currency notes, highlighting a significant improvement in the gap between the official exchange rate and the parallel market rate, which has decreased from 24% to 9%. This statement came during a visit by the Parliamentary Investment and Development Committee, headed by MP Nahida Al-Daini, to the Central Bank to discuss the effects of the dollar exchange rate changes on the economy and investment, as well as the challenges facing investors and local companies. The committee reviewed the measures taken by the Central Bank to support the national economy, including providing concessional loans to citizens through government and private banks, ranging between 5 and 15 million dinars. The committee emphasized the importance of mitigating the impact of exchange rate fluctuations on the costs of investment projects, prices of raw materials, and contractual obligations, as well as their effects on market stability and citizens' purchasing power, calling for balanced solutions that achieve monetary stability and protect economic activity. It also stressed the need to enhance coordination between the Central Bank, government bodies, and the banking sector to overcome obstacles facing investors and facilitate banking finance, ensuring the continuation of investment projects without imposing additional burdens. The committee clarified that monetary policy stability and clear banking procedures are fundamental to creating an attractive investment environment, affirming ongoing monitoring of priority economic files and efforts to develop practical recommendations that support investment, safeguard citizens' interests, and strengthen the national economy.