Expert: Stopping the currency auction at the Central Bank of Iraq is behind the return of the dollar’s rise
Expert: Stopping the currency auction at the Central Bank of Iraq is behind the return of the dollar’s rise
2025-03-04 00:54
Shafaq News/ Economic expert Mohammed Al-Hasani suggested on Tuesday that the Central Bank of Iraq’s suspension of holding a hard currency auction is behind the return of the dollar’s price hike in local markets.
Al-Hasani told Shafaq News Agency, “The bank did not publish the currency auction on its website during the past two days, which led to an increase in demand for the dollar in local markets.”
He added that “the increase in demand with the decrease in supply led in turn to the return of the dollar’s rise,” adding at the same time that “this is not without speculation by currency traders.”
The dollar price rose again against the dinar in local markets to reach more than 149 thousand dinars for every 100 dollars, after it had fallen during the past few days to 146 thousand dinars for every 100 dollars.
The Central Bank of Iraq stopped publishing the foreign currency auction procedure for two consecutive days on its website.
shafaq.com
