Sudanese Advisor In A New Comment On The Dollar
Sudanese Advisor In A New Comment On The Dollar
06/15/2023
Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, suggested that the exchange rate of the dollar would gradually decline with the approval of the budget.
Saleh said, in a press release followed by Earth News, on Thursday, that “the delay in enacting the budget law delayed fixing the new official price and thus was reflected in the exchange rate of the dollar, in addition to the increased demand for the dollar and the high spending in the Iraqi currency by citizens, merchants and the government.”
He added, “Iraq currently has very good hard currency cash reserves, which are at the highest levels in Iraq’s history.”
Saleh indicated that “after voting on the budget law, and fixing the official price at (1300), the coming days will witness a gradual decrease in the dollar exchange rate in the parallel market, until the official price is reached.”
The exchange rates of the dollar against the Iraqi dinar are witnessing a significant increase in light of a battle waged by Prime Minister Muhammad Shia al-Sudani to reduce prices locally.
earthiq.news
