Economist: The government’s measures will contribute to devaluing the dollar within two weeks
Economist: The government’s measures will contribute to devaluing the dollar within two weeks
12-17-2022
Information / Baghdad ..
The economist, Bassem Antoine, confirmed that government measures will contribute to a decrease in the exchange rate of the dollar within two weeks, while he identified two main reasons behind the continuous rise.
In a statement to Al-Maalouma, Antoine said, “The set of measures taken by the government of Prime Minister Muhammad Shia’a Al-Sudani and the Central Bank by reducing the price of the dollar and limiting imports will contribute to the return of the exchange rate of the dollar to what it was and within two weeks.”
He added, “The high exchange rate of the dollar against the Iraqi dinar stands behind it for two reasons: the first is the failure to legislate the budget law by determining the exchange rate, while the other factor is the transfer of corrupt money from the Iraqi dinar to the dollar, which led to an increase in demand for the dollar.”
The Finance Committee in the House of Representatives attributed earlier the reasons for the high price of the dollar against the Iraqi dinar to the pressure exerted by the US Federal Bank on the Central Bank of Iraq.
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