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3 reasons for the rise in the dollar and the government's warning against this step

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3 reasons for the rise in the dollar and the government's warning against this step Empty 3 reasons for the rise in the dollar and the government's warning against this step

Post by RamblerNash Tue Dec 15, 2020 10:29 pm

3 reasons for the rise in the dollar and the government's warning against this step 1-2564-232
12/15/2020 15:11:52
 
{Baghdad: Al Furat News} Economic analyst Aras Hussain Dartash confirmed that the high price of the US dollar against the Iraqi dinar in the markets of the Kurdistan region and Iraq is due to several reasons.

The dollar fell today to 1278 dinars to the dollar, after the exchange rate jumped yesterday to more than 1300 dinars.

Dartash said in a press statement, today, Tuesday, that the rise in the price of the dollar in the markets is due to several reasons, adding that the first reason is rumors, as there is a type of which are just rumors from some officials and politicians and perhaps they are basically non-economic, about the government's intention to reduce the value of the dinar Iraqi against the dollar, stressing that it belongs to the Ministry of Finance and the Central Bank, but so far we do not know is this correct or not? There is no official position on the part of the government or the central bank.

”He added,“ The second reason is that usually in the last month of the year the central bank conducts clearing operations in order to close and organize final accounts, and during this period a smaller amount of the dollar is offered through the currency windows and may stop The central bank announced the introduction of the dollar on the market for several days.

He pointed out that "the third reason is that there is talk that Iraq may face problems against the background of regional conflicts or the conflict between the United States and Iran, which raises investor concerns and pushes them to keep a larger amount of the dollar. 

As for the government's intention to actually reduce the price of the dinar against the dollar," he said Daratash that he is said to be in the government 's intention to have the dollar exchange rate against the dinar to the 135 000 or 150 thousand dinars for each $ 100, expressing his belief that there was anything like that for as long as there is nothing official yet. 

he pointed out that in the case decided The government has reduced the exchange rate of the dinar against the dollar, the prices of goods and goods will rise, and the purchasing power of the Iraqi dinar will decrease, pointing out that the loss in this case will affect people with limited income, and in the first and last the citizen is the loser, whether he is from low-income or not, stressing that people with They will be affected by this limited income more than others.

Ammar Al-Masoudi

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