An economic expert for / Nina / confirms that there are several reasons behind the rise in the price of the dollar and stresses the importance of calming the local market

Sunday 13 June 2021 20:38
 
Baghdad / NINA / - The expert in economic affairs, Raad Twij, attributed the rise in the exchange rate of the dollar against the dinar to the weakness of managing monetary demand and reliance on a certain situation without calculating the expectations of demand.

Twig said in a special statement to the National Iraqi News Agency / NINA / that "the current rise in the exchange rate of the dollar against the dinar is caused by poor management of monetary demand within the framework of ineffective monetary policy and reliance on a specific situation without calculating the expectations of demand and trying to direct it according to the goals set by the Central Bank for it."

He pointed out that "the multiplicity of parallel exchange markets, the absence of a margin for the exchange rate, the low effectiveness of the banking market, the decline of banking products and excessive importation, which is reflected in excessive monetary demand, as well as the rate of imported inflation and the presence of cash issuance all led to the expansion of monetary demand in an unprecedented and remarkable way that contributed to the rise of the exchange rate." The dollar is higher than the official price of 145 thousand dinars for one hundred dollars.”

Twig stressed the need to "take a package of continuous measures to calm the panic of market dealers."

And the local markets in Baghdad and the provinces witnessed an unprecedented rise in the exchange rate of the dollar, as it reached 152 thousand dinars to 100 dollars./End 8

https://ninanews.com/Website/News/Details?key=909756