Determine 3 points to end dependence on the dollar in Iraq
Determine 3 points to end dependence on the dollar in Iraq
11-7-2023
Information / Baghdad…
Representative Hussein Habib, on Tuesday, identified three basic points to end reliance on banking transactions in dollars within Iraqi markets.
Habib said in an interview with Al-Maalouma, “There are many solutions to end the issue of the rise in the dollar exchange rate in the country’s parallel markets, which has a direct impact on prices, especially with the presence of speculators, whales, and influential networks that benefit from any crisis in reaping profits through their control over the dollar file.” “.
He added, “There are 3 important horizons for ending the dollarization of markets in Iraq, the most prominent of which is determining the segments eligible for dealing other than the dollar, stressing the shift to dealing in the dinar at home, and pushing the parties to increase their participation in the file of providing basic materials, such as food, medicine, and other materials, and putting them in Iraqi dinars in the markets, in addition to… Reopening factories in order to reduce the rate of imports and thus reduce the export of dollars abroad.”
He pointed out that “there are external factors affecting the dollar file, especially by Washington, but reducing imports and relying on national production is the most important factor in reducing demand for the dollar and relying on the national currency in all internal exchanges.”
The exchange rate of the dollar in the parallel market witnessed an increase in recent weeks and broke the barrier of 168 thousand dinars for every 100 dollars.
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