Baghdad, Jan 26 (TIWN) Hundreds of protesters rallied near the Central Bank of Iraq in downtown Baghdad against the recent devaluation of the local currency and demand the government take action to stabilise it.

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.”  Iraq’s Prime Minister Mohammed Shia al-Sudani on Monday accepted the resignation of the governor of the country’s Central Bank, Mustafa Ghaleb Mukheef, following a weekslong plunge of the Iraqi dinar. Mukheef, who had been in the post since 2020, was replaced by Muhsen al-Allaq as acting governor.  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.  On Wednesday, the street exchange rate was about 1,610 to the dollar.  Some politicians in Iraq have blamed the drop on recent measures by the U.S. Treasury.