A government official determines the reason for the stability of the dollar exchange rate in the Iraqi markets
A government official determines the reason for the stability of the dollar exchange rate in the Iraqi markets
2022-03-29 02:42
Shafaq News/ An official source in the Iraqi government attributed, today, Tuesday, the reason for the stability of the exchange rates of the US dollar in the local markets to “economic stagnation”, indicating that the bank’s cash sales are less than what the market needs in normal cases.
The source told Shafaq News Agency, “The delay in the budget for the current year 2022 is behind the economic stagnation in the main commercial market in Baghdad, which led to the stability of the dollar exchange in local markets,” adding that “the citizens’ demand for purchase in the month of Ramadan was an incentive to maintain stability rather than declining further as a result of this stagnation.”
The official, who asked not to be named, added that “the bank’s cash sales during the auction that it conducts daily are less than what the market needs in normal cases,” noting that “the lack of travel during these days of the year and the unstable political conditions have a significant impact on demand and supply for the for the dollar.”
It is noteworthy that the exchange rates of the US dollar against the Iraqi dinar in the local markets have witnessed stability during the past two weeks, with a slight increase or decrease.
And the dollar exchange rates in the stock market today recorded 147,200 dinars per $100.
shafaq.com
