Hundreds of protesters rallied Wednesday near the Central Bank in the Iraqi capital, Baghdad, angered by the recent devaluation of the Iraqi dinar and demanding the government take action to stabilize the currency.
The protesters — mainly young people — rallied amid a heavy security presence, with many carrying the Iraqi flag and banners with slogans. One slogan read: “The politicians are the ones covering up the financial corruption for the banks.”
The dinar hit new lows last Friday, reaching about 1,670 to the dollar. The currency has lost nearly 7% of its value since mid-November. The official rate stands at 1,470 dinars for $1.Some politicians in Iraq have blamed the drop on recent measures by the U.S. Treasury. In Lebanon's capital, Beirut, dozens protested in front of the Central Bank, denouncing the slide of the Lebanese pound, which began in 2019. The value of the pound hit a new low last Thursday, trading at 50,000 to the dollar, as the country’s deeply divided Parliament failed to elect a president for the eleventh time.
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