A banking advisor reveals the reason for the rise in the dollar .. This is his advice to citizens
A banking advisor reveals the reason for the rise in the dollar .. This is his advice to citizens
10/19/2020 09:12:38
{Baghdad: Al Furat News} The banking advisor, Ammar al-Samarrai, said that the rise in the dollar’s exchange rate during the past days comes as a natural result of the impact of circumstances, news and general conditions.
Al-Samarrai confirmed in a press statement, that “this rise in the price of the dollar is temporary and will return to its normal rates, but it will take several days,” indicating that “the rise will continue until the supply and demand gap in the market shrinks.” Small, and dependence in daily commercial dealings on the dinar, because that will reduce the demand for it, which increases the supply. ”
He stressed “the need to support the dinar in this economic phase that Iraq is going through, in a way that would relieve the burdens of those with limited income and the poor segments of society.”
He stressed that “the Central Bank is a solid institution capable of dealing with such imbalance and that Iraq is a rich country and has not been interrupted. About his revenues from exporting oil despite the fluctuation of the price of a barrel globally, stressing that “prices will return to their normal rates after a period of time.”
The Central Bank of Iraq announced yesterday, Sunday, “the stability of the dinar exchange rate against the dollar is fixed and has not changed, and the statements that have spread recently regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank. A number of rumors launched by speculators, which affected the price (temporarily). ”The
bank confirmed that“ its monetary policy is clear and transparent, ”noting that“ its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis that the country is going through. “.
alforatnews.com
