An economic expert explains the reasons for the dollar’s decline in the parallel market
An economic expert explains the reasons for the dollar’s decline in the parallel market
5-6-2024
Information / Baghdad…
Today, Monday, economic expert Safwan Qusay explained the reasons for the decline in the value of the dollar against the Iraqi dinar in the parallel market, pointing out the necessity of taking a number of government financial and economic measures to support the dinar.
Qusay told Al-Maalouma, “There is a policy followed by the Central Bank of Iraq to support the value of the dinar, as the dollar is still being sold for 1,320 dinars, and the commercial system in Iraq has improved so that merchants can invest through the electronic platform and enhance balances by obtaining the dollar at the official price.”
He added, “Demand withdrew from outside the parallel market towards the electronic platform of the Central Bank, in addition to the fact that there is a policy followed by the Sudanese government to implement reforms in financial management towards diversifying the economy and investment and supporting the value of the dinar.”
He stated, “There is a need to implement financial and economic reforms and get out of the circle of the oil economy, as oil prices are what support or reduce the value of the dinar.”
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