Mohammed Shia al-Sudani’s move comes after a fall in value of the Iraqi dinar against the US dollar, state media reported.

Iraq’s prime minister has 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

In a televised address, al-Sudani said: “Today, the central bank governor’s request for discharge was approved, as was the request for retirement by the president of the Trade Bank of Iraq.”

Without mentioning names, al-Sudani added the successors for the key posts were “known for their experience, their abilities and their integrity”.

Al-Allaq, a former central bank governor, was named “acting governor,” an indication it could be a temporary posting.

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.