An economist identifies four reasons for the dollar’s rise and calls on the central bank to take urgent measures.
An economist identifies four reasons for the dollar’s rise and calls on the central bank to take urgent measures.
9-19-2026
Information / Baghdad..
On Saturday, economist Dirgham Muhammad Ali identified the real reasons behind the new rise in the exchange rate of the dollar against the Iraqi dinar, while calling on the Central Bank to take urgent measures to control the parallel market and inject hard currency.
Mohammed Ali told Al-Maalomah News Agency that “the current rise is due to a number of direct and indirect reasons, most notably the tightening of US sanctions on Iran, which has caused an increase in demand for the dollar to finance direct trade.”
He added that “among the other reasons is the decision to reduce the exchange quota for travelers from (3000) dollars to (2000) dollars, which led to a shortage of cash supply in the parallel market as a result of patients and tourists turning to it to complete their needs for foreign currency.”
Mohammed Ali continued, “The third and important factor is the withdrawal of Al-Taif Bank, which was a vital gateway for the entry of dollars through the Western Union network,” noting at the same time that “the fourth reason may be a deliberate and planned process of raising the exchange rate to achieve huge profits for unpunished banks.”
The Central Bank was urged to conduct a genuine review of the mechanisms for injecting dollars into the market; otherwise, the sharp rise in the exchange rate will continue, harming the citizens.
almaalomah.me
