Adviser to the Prime Minister reveals to Al-Furat News the reason for the rise of the dollar… and warns
Adviser to the Prime Minister reveals to Al-Furat News the reason for the rise of the dollar… and warns
06/07/2021 09:55:53
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, revealed the reason for the recent rise in the dollar exchange rate in local markets.
Saleh told {Euphrates News}, that “many situations and factors are not easy in the rise in dollar exchange rates, and they are also factors related to market behavior,” noting that “there are monopolistic factors and speculators that raise dollar prices, and there are no efficient markets, which are weak and deal in monopolistic ways, but the central bank has Of the sufficient precautions that intervene in the market and impose the stable price of 1450 dinars with simple deductions.”
He added, “These are additional downloads, and they are a simple commission that is allowed globally, and the local market always differs from the official dollar market by 2%, and it is a simple cost between the two prices of the central and local banks.”
Saleh warned against “reducing the sales of the Central Bank with the presence of such monopolistic incubators in the market because prices will rise a lot and affect the citizen, and if the bank’s sales increase, the voices will be louder than the presence of sales that exceed the needs.”
He explained, “The cash cost issued by overrun is covered in foreign currency,” stressing “giving freedom and complete independence for the Central Bank from interfering with the matter of maintaining stability in the purchasing power of the Iraqi dinar.”
It is noteworthy that the local markets and stock exchange prices throughout the country have witnessed during the past few days a continuous rise of the dollar and sometimes exceeded 1500 dinars against one dollar, i.e. a difference of 500 dinars from the price set by the Central Bank of Iraq {1450 dinars} since the beginning of this year.
alforatnews.com
