An economist explains how to reduce the dollar exchange rate
An economist explains how to reduce the dollar exchange rate
01/31/2021 11:51:52
{Baghdad: Al Furat News} Economic expert Basem Jamil Antoine explained the way to reduce the exchange rate of the dollar against the Iraqi dinar, indicating that there must be a plan and study and not to go with “moody”.
Antoine said in an interview with the Euphrates News Agency, “I was the first to demand an increase in the value of the dollar and a reduction in the Iraqi dinar by a lower rate than the current one, indicating that instead of being 23.5%, I demanded 10% so that there is no major shock to the citizen, which leads to negative repercussions. On the market. ”
He continued: “After we lowered 10% of the value of the dinar and anticipated the price of a barrel of oil, it began to rise over a period of six months, we noticed that with the recovery from Corona cases, the global economy began to increase demand for oil and the price of oil began to rise from the forties to above fifty.”
He added that “the high price of a barrel of oil provides the government with great potentials. Every dollar that rises against the dinar leads to a reduction in the budget deficit of one trillion dinars.”
The economic expert pointed out that “the House of Representatives has many statements and they do not have one voice or opinion, and the government as well,” pointing out that “it is supposed to collect 113 signatures for the House of Representatives to reduce the value of the dollar to 1300.”
Antoine added, “There must be a study based on raising the price or reducing the price, as the issue is not” moody “.
The expert Antoine expects that “the price will stabilize as it is now and will not be reduced in the future.”
alforatnews.com
