March 25, 2021 | banking

Economist: The Current Exchange Rate Is Exaggerated, And Returning To Its Previous Price Is Very Difficult


Baghdad / NINA /- Economist Saleh Al-Hamashi confirmed that: The current exchange rate is exaggerated and returning to its previous price is very difficult.

He told the National Iraqi News Agency / NINA / that: The monetary policy of the Central Bank in changing the exchange rate of the Iraqi dinar against the dollar, which reached 1450 per dollar, came as a result of the lack of cash liquidity and to restore the balance of the monetary mass with the size of foreign currency reserves to reach the point of balance in the monetary mass with the size of internal obligations of the state.

Al-Hamashi added that: The government resorted to reducing the exchange rate of the Iraqi dinar against the dollar, but the government exaggerated this price, which affected people with limited income.

He explained that: The possibility of returning the exchange rate to 1200 per dollar is very difficult at the present time.

Blocs and political forces and popular and economic actors are calling for the return of the dollar’s exchange rate to its old status after the current exchange rate caused an increase in the prices of basic products that affected low-income people and families under the poverty line in particular.

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