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Sunday 28, February 2021 20:07
Baghdad / NINA / Economic expert, Raad Twaij, suggested that the exchange rate of the dollar against the dinar would decrease as a result of the revival of the local market and the increase in oil prices.
Twig said in a statement to the Iraqi National News Agency / NINA/ The average price of the dollar recorded a decrease from 1460 dollars, which is the official price of the Central Bank of Iraq, 1447.5 dinars for purchase and 1457.5 for sale as a result of the revival of the central bank sales through the currency window last Thursday to 155.984 million dollars at the official price, indicating that this move in the cash demand comes After being met by stagnation in the Central Bank of Iraq’s dollar sales since the price of the Iraqi dinar was reduced as a result of the presence of excessive real domestic demand for imported goods for fear of extending urban periods as a result of the epidemic as well as merchants relying on the conviction of the stability of the central bank’s decision to reduce the exchange rate of the Iraqi dinar and the Ministry’s pledge Financial compensation to compensate traders and contractors for their losses due to the decrease in the price of the dinar.
He pointed out that: The decisive matter in the decrease in the price of the dinar is the increase in the reserves of the Central Bank of Iraq from 15 billion dollars to 55 billion dollars as a result of the increase in oil prices to 67 dollars per barrel and the decrease in the domestic demand for the dollar. The local market due to the increase in oil prices and the arrival of vaccines in Iraq.
”The economic expert predicted: More oil gains amounting to 20% per month, and the sale of oil to $ 70 per barrel.
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