Economic: The dollar's rise is temporary and does not affect the local currency

by **RamblerNash** Wed Nov 25, 2020 9:19 pm

Wednesday 25, November 2020 09:03

Baghdad / NINA / An expert in economic affairs, Raad Twaij, confirmed that the high exchange rate of the dollar against the Iraqi dinar is a temporary and marginal rise and will not affect the value of the Iraqi currency.

Twig said in a statement to the Iraqi National Agency for Sons / NINA / that "the current rise in the dollar compared to the Iraqi dinar is a marginal rise because the Central Bank of Iraq still has a cash reserve through which it can continue to maintain the value of the dinar, which reflects the continuity of support for it. However, floating the currency is possible." Reaching it and considering it a kind of new monetary policy that could reduce the monetary burden on the central bank.

He added: There are no signs of any inflation, so domestic commodities are still stable and there are no rises in the general level of prices.

The price of the dollar witnessed a relatively high rise against the dinar, as it recorded 125 thousand and 500 dinars against $ 100./8 Ended

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