Economic expert: Two reasons weaken the sale of the dollar in the Central Bank of Iraq - urgent

Economic expert: Two reasons weaken the sale of the dollar in the Central Bank of Iraq - urgent

03/01/2021





Baghdad Today - Special The economic expert, Manar Al-Obeidi, revealed, on Sunday, January 03, 2021, two reasons for the weakening of .the sale of dollars in the central bank, after the bank was selling 200 million dollars a day

 Al-Obaidi said in an exclusive interview with (Baghdad Today), "The decrease in demand for the dollar in the Central Bank was the result of two factors. The first is related to the high exchange rate of the dollar compared to the Iraqi dinar, which prompted many merchants to refrain from purchasing goods from abroad to make sure of the current " .phase." 

What will happen in the coming days He added that "the second reason is the decrease in the sales price, related to many banks and exchange companies that close their accounts and financial currencies at the end of each year for the purpose of the annual ".inventory or writing annual financial reports 

He continued, "The country will witness a natural return to dollar sales in the central bank, but it will not return as it ".was at the rate of 200 million dollars a day, but rather it will be limited to 100-115 million dollars a day The central bank’s sales decreased recently after the dollar’s exchange rate changed dramatically. After its daily .sales reached $ 200 million, it fell to less than $ 40 million per day in recent days 

The economic expert, Safwan Qusay, commented on Wednesday, December 30, 2020, on the decline in central 
.bank sales after changing the dollar exchange rate compared to the Iraqi dinar 

Qusay said in an exclusive interview with (Baghdad Today), "The decline in central bank sales by nearly 70% before raising the dollar exchange rate is natural, given that import operations have greatly decreased due to the concerns ".of fear and trauma experienced by merchants 

He added that "merchants and bankers, as well as citizens who own the Iraqi dinar, deliberately acquired the dollar before its price rose in the markets, and they deliberately pumped the dollar into the market after the exchange rate ".rose, 

which achieved great profits for them He continued, "These traders are keeping the Iraqi dinar at the present time for fear of buying the dollar and ".returning its price to what it was in the past 

Safwan pointed out that "the decrease in the Central Bank's sales of dollars by approximately 70-80% than it was in the past, due to the importers' reluctance to purchase operations due to fear of the return of the old exchange rate, ."with attempts to maintain the Iraqi dinar in order to stabilize the exchange rates in a way."

 Fixed



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