Economist: The control of the powerful over the currency auction prevents the dollar price from changing
Economist: The control of the powerful over the currency auction prevents the dollar price from changing
Tuesday November 2, 2021 | 08:43 AM
Economist Wissam Al-Tamimi said, on Tuesday, that the influence of the influential on the currency auction will prevent the dollar exchange rate from changing, pointing out that most private banks are affiliated with influential political parties that stand in front of the exchange rate change.
Al-Tamimi said that “the parties that control the currency auction have made great gains after the rise in the dollar exchange rate, especially since most of them have large commodities and goods placed in stores, and therefore they made profits after buying them at the old price as well as benefiting from their returns in the currency auction.”
He added that “the influential will stand a stumbling block in the event that the dollar exchange rate is reduced in the budget, as most of their banks are working to earn profits from the currency auction, and any reduction that may occur will cause great losses for them.”
Al-Tamimi explained, “The recovery of the oil market and the entry of large amounts of hard currency into Iraq will contribute to increasing the incomes of workers in the currency auction, which will push them to stand in front of any attempt by the government to reduce the dollar price in the next stage, and it is likely to keep the exchange rate at its current status or a slight increase in next year’s budget
aynaliraqnews.com
