Former Director of the Central Bank of Iraq Explains the Current “Decline of the Dollar”
Former Director of the Central Bank of Iraq Explains the Current “Decline of the Dollar”
2025-01-08 03:57
Shafaq News/ Financial expert and former director of the Central Bank of Iraq, Mahmoud Dagher, confirmed on Wednesday that the exchange rate of the US dollar against the Iraqi dinar has not decreased, while indicating that speculators are behind what is happening at the present time.
Dagher told Shafaq News Agency, “There is no decline in the dollar. When it records 152 thousand dinars per hundred dollars and returns to 151 thousand dinars, this is not called a decline,” indicating that “the dollar in the local markets is basically high by 180 points, or about 19 thousand dinars per hundred dollars.”
He pointed out that “speculators are behind this slight decline, which is not a decline for the purpose of making some profits.”
The financial expert explained that “the dollar did not rise much after the platform was closed because transfers continued and Iraq’s imports remained fluid.”
The dollar exchange rate in the Iraqi local markets fell during the current week from 152,000 dinars to 150,800 dinars before gradually rising again.
shafaq.com
