Dinar support for daily transactions is required now

by **claud39** Sat Jan 11, 2020 11:02 am

[size=36][rtl]Dinar support for daily transactions is required now[/rtl][/size]

Friday 10 January 2020

Dinar support for daily transactions is required now Alsabaah-27320

Baghdad / Mustafa al-Hashemi

Markets recorded in the past few days a relatively high exchange rate of the dollar against the Iraqi dinar, as well as the high price of gold locally, at a time when specialists considered this rise within the normal rates and does not call for fear; because the conditions that Iraq has gone through previously proved that.

On Friday, gold prices recorded 260 thousand dinars, while the exchange rate of the dollar reached 122 thousand Iraqi dinars against the hundred dollars, after it reached 124 thousand dinars per hundred dollars last week.

General conditions

The banking advisor, Dr. Issam Al-Mahawili, stated that "the high dollar exchange rate is influenced by circumstances, news and general conditions as (spongy boarding) and temporary and will return to its normal levels, but it will take one or two weeks at the most."

Al-Mahawili added in an interview with Al-Sabah that this fluctuation in the price will continue for a period until the gap between supply and demand returns to its normal size.

Calling for "not to acquire the dollar and deal."

It is used in buying and selling and relying in the daily commercial dealings on the dinar, because this will reduce the demand for it, which increases the supply. "

"Consequently, abundance will contribute

Greatly reduced its exchange rate, "

Stressing "the need to support the dinar in this economic phase that Iraq is going through, in order to alleviate those with low incomes and poor segments of society."

Productive sectors

The banking advisor stated that "activating the productive sectors would reduce the effects of the low exchange rate of the dinar against the dollar, as in the final outcome it reduces imports of goods that can be produced and manufactured locally and that cost large amounts of money that can be invested and invested in revitalizing those sectors."

He stressed that "the central bank

A discreet institution capable of handling

Such an imbalance is that Iraq is a rich country

And his revenues from oil exports did not stop from him despite the fluctuating price of a barrel globally, "stressing that prices will return to their normal rates after a period of time has passed."

Previous experience

In turn, economic researcher Firas Amer said that "such an imbalance in the exchange rate is a result of the conditions the country is going through," adding that "this reality has been experienced by Iraq previously after the stability of the dollar exchange rate during the years 2012 and 2013."

He pointed out that "the high price of gold and the dollar in Iraq has to do with the threats and economic concerns that the country may be exposed to due to regional conditions and fears of the outbreak of conflicts in the region that may have repercussions on the country."

He explained that "Iraq is an oil producing country

And that the news I covered

Various media outlets have created an unwarranted panic among Iraqis. "

Pointing out that the market is now

It is controlled by the central bank, except from some weak souls who take advantage of these conditions to raise prices, as there is a state of general confusion in the gold markets and exchange rates locally.

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