Economist: The US Treasury is behind the rise in dollar prices
Economist: The US Treasury is behind the rise in dollar prices
12-8-2022
Information / Baghdad ..
Economic expert Nabil Jabbar Al-Ali identified, on Thursday, the reasons for the rise of the dollar during the past days, exceeding the barrier of 150 thousand dinars for every 100 dollars, attributing this to the scarcity of the availability of the dollar in the Iraqi markets.
Al-Ali said, in a statement to Al-Maalouma, that “the rise in dollar prices came as a result of the bank’s recent measures to stop 4 banks from entering the currency sale auction due to US sanctions and also because of warnings addressed to 14 other banks in Iraq suspected of dealing in money laundering activities.”
And he added, “As a result, the Central Bank’s sales decreased during the past weeks by a large percentage that exceeded 50% of the sales rate in the past months, and these measures led to a scarcity of the dollar in the markets from us, causing it to rise in the black markets by 2-3%.”
Al-Ali pointed out that “there is a great demand for the dollar in the market away from the window for selling the currency,” noting that “the decline in the value of the Iraqi dinar against the dollar reflected negatively on the overall economic conditions.”
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