The financial advisor to the Sudanese government comments on the rise in the exchange rate of the dollar

The financial advisor to the Sudanese government comments on the rise in the exchange rate of the dollar

2022-11-22 01:53

The financial advisor to the Sudanese government comments on the rise in the exchange rate of the dollarShafaq News/ The financial and economic adviser to the Iraqi government, Mazhar Muhammad Salih, commented today, Tuesday, on the high exchange rate of the dollar against the Iraqi dinar in the local market.

Saleh told Shafaq News agency, “The temporary rises in the exchange market in favor of the dollar against the dinar are not caused by an economic factor or a restrictive measure in monetary policy, but rather come because of colorful information leaking into the currency environment, especially rumors and exaggerated news.”

And he indicated that “the exchange market is an information market and its decisions are based on news, so if there is a colored news or a distorted rumor launched by a number of speculators in the secondary exchange market, this leads to generating opportunities for seizing the emergency profit from the buying and selling transactions in order to collect fatal or emergency profits and in usually short and limited periods.

The financial and economic advisor to the Iraqi government added, “If it is noticed that there is colorful or confusing news that has accumulated recently about the performance of some local banks and their foreign dealings, in order to build an incorrect rumor for the purpose of speculation and quick profit in the secondary exchange market.”

shafaq.com