Because of an expected action … a deputy is likely to have a higher exchange rate of 1600 dinars

Because of an expected action … a deputy is likely to have a higher exchange rate of 1600 dinars

MONDAY, MARCH 29-2021, PM 5:05

10K Iraqi Dinar notesThe deputy of the Al-Fateh Alliance, Hamid Al-Mousawi, warned of a major and expected setback that the Iraqi market may experience in the coming days, while he expected the dollar exchange rate in the market to 1600 dinars against one dollar in the coming period.

Mousawi said in a televised statement, “The continued adoption of the price of 1450 for the exchange of the dollar will expose the market to a major setback, due to the loss of consumer confidence in it,” indicating that “the coming days will witness a rise in the dollar exchange rate to 1600 dinars against the dollar in the event of having to act with the cash reserves.”

“The Iraqi dinar will lose a lot of its value if the government insists on adopting the exchange rate set by the government in the budget law, which is 1450 dinars, and the Iraqi citizen is most affected by this matter,” he added.

Moussawi added that “the dollar exchange rate will be sold in the coming days at two prices, one set by banks and the other by the market, and this matter will lead to confusion in the market and increase its prices to more than 30% compared to previous prices.”

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