Government source: decision to raise dollar exchange rate discussed and approved by political leaders

A government source said on Thursday evening that the decision to raise the dollar exchange rate was discussed and ratified during recent meetings of the political forces with the prime minister.

The source explained that "the file of the financial crisis was present in all official government meetings with the political forces, whether they were individual meetings with some party and political leaders or expanded meetings with all the forces," and that "those meetings produced proposals to address the financial crisis, among them raising the dollar exchange rate, alongside strengthening the state's fiscal revenues."

The source added that "the proposal received the support and approval of the leaders of the political forces, after they were convinced that raising the dollar exchange rate would generate a profit margin that would cover the country's general budget deficit."

In its session last Tuesday, October 6, the Council of Ministers decided that the purchase price of the dollar from the Ministry of Finance be 1500 dinars, its sale to banks 1510, and to the final beneficiary 1520 dinars, compared with 1320 dinars previously — an increase of 20,000 dinars per $100. The sudden rise in the exchange rate caused confusion in the markets, with difficulty in determining buying and selling prices and in pricing goods.