“Hidden Forces of Speculation”… Economist Reveals New Reason for Dollar’s Rise
“Hidden Forces of Speculation”… Economist Reveals New Reason for Dollar’s Rise
2024/08/26
An economic expert revealed a new reason behind the rise in the dollar exchange rate against the dinar.
Bassem Jamil Antoine told Al Furat News Agency, “Regarding the rise in the dollar exchange rate and its remaining at its current rates in the parallel market, it is the result of forces “behind the curtain” or what is known as the “hidden state” of speculators and traders, as they are the ones trying to keep prices at these rates.”
He considered the government measures “weak in the face of these speculators and currency traders, as they were unable to limit the rise in exchange rates because of them and their actions and their possession of power, strength and money, and they are the ones who determine prices,” according to him.
Jamil believed that “as long as these hidden parties exploit the country, the exchange rates will remain the same.”
It is noteworthy that the dollar exchange rate in the local markets (parallel) is recorded at about 1,490 dinars, a large difference from the official price sold by the Central Bank of Iraq, which is 1,320 dinars.
The Governor of the Central Bank of Iraq, Ali Al-Aq, announced on August 7 that “there is no intention to reconsider the dollar exchange rates,” noting that “the Central Bank sells more than 250 million dollars daily at the official price {1,320 dinars}.”
He said, “The view that the dollar price has risen or fallen is not a correct indicator.”
alforatnews.iq
