Vice expects a reverse return in the exchange rate and talks about three negatives
Vice expects a reverse return in the exchange rate and talks about three negatives
7-31-2023
Information / special.
Representative Baqir Al-Saadi expected, on Monday, that the dollar exchange rate against the dinar will continue to decline in the coming days.
Al-Saadi said, in an interview with Al-Maalouma, that “common external-internal factors were behind the rise in the exchange rates of the dollar in the parallel market in Iraq in recent weeks, in a way that raised public concern.”
He added, “The rise carries with it three direct negatives, most notably the reduction in the value of government salaries and the rise in prices of basic materials in light of the existence of the principle of speculation, not to mention its harsh impact on segments below the poverty line.”
He pointed out that “there is a series of measures taken by the Sudanese government in coordination with the Central Bank in recent days that will lead to reassurance of the markets and push the exchange rates of the dollar to reverse again,” stressing that “the decline actually started since yesterday and we expect it to continue.”
The dollar exchange markets have witnessed a steady rise in recent days, especially with Washington imposing sanctions against 14 Iraqi private banks.
almaalomah.me
