Iraq’s prime minister on Monday replaced the governor of the country's Central Bank following a weekslong plunge of the Iraqi dinar, the state news agency reported. Prime Minister Mohammed Shia al-Sudani made the move after the governor, Mustafa Ghaleb Mukheef, told him he no longer wishes to stay in the job, the Iraqi News Agency said. Mukheef, who was in the post since 2020, was replaced by Muhsen al-Allaq, a former central bank governor, the agency added. The dinar hit new lows on Friday, reaching about 1,670 to the dollar. The currency has lost nearly 7 percent of its value since mid-November. The official rate stands at 1,470 dinars to the dollar. The drop in
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