Rise in dollar price is unjustified, says Iraqi economic analyst

Economy 12:49 PM - 2020-12-19

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Iraqi economic analyst Diaa Mohsen confirmed that the high price of the US dollar against the Iraqi dinar is unjustified, calling on the Central Bank to cancel the currency sale window.

 

In a special statement to PUKmedia, Diaa Mohsen said that the rise in the price of the dollar is unjustified, as there is no economic crisis in Iraq, no internal problems, and there is no decrease in oil prices, and Iraq does not live in a state of war.

 

He added that the Central Bank must cancel the currency sale window, and to sell the dollar to citizens itself, pointing out that the Central Bank must also oblige merchants to open documentary credits to import basic materials that serve the citizen and actually need them.

 

It is noteworthy that the price of the dollar against the dinar rose significantly, reaching about 138 thousand dinars per 100 US dollars on Saturday, while it was at about 125 thousand dinars per 100 US dollars just a few days ago.

 

The rise in dollar prices comes as a part of the Iraqi government's plan to address the country's financial issues where the government has reportedly planned a currency devaluation as part of a draft 2021 budget.

 

The draft law of the Iraqi government, which has to go through a parliament vote first, gives an anticipated exchange rate of 1,450 Iraqi dinars for the dollar.

 

 

 

PUKmedia