Foiling Al-Kazemi’s plan…the dollar continues to bow against the dinar and falls to its lowest level since 2020
Foiling Al-Kazemi’s plan…the dollar continues to bow against the dinar and falls to its lowest level since 2020
4-26-2023
Information/Baghdad..
The exchange rates of the US dollar continue their continuous decline against the value of the Iraqi dinar throughout the days of the current week, achieving the lowest price since 2020, when the former Prime Minister Mustafa Al-Kazemi began implementing American agendas and announcing the increase in the price of the dollar to more than 1460 per dollar, which caused In economic turmoil that lasted for several years.
The current government’s measures, headed by Muhammad Shia’a al-Sudani, contributed to maintaining the stability of the dollar exchange rate after it witnessed chaos throughout the years 2020, 2021 and 2023.
Overnight, the previous government headed by Al-Kazemi issued a change in the exchange rate of the dollar to 1460 dinars, which spread anxiety and fear among the popular circles with this sudden decision, which warned the local markets of a significant rise in prices.
The exchange rates of the dollar against the dinar witnessed stability at the exchange rates of the dollar in the local markets in all governorates of the country, touching 139 thousand dinars against 100 US dollars.
In light of the decline and continuous bending of the US dollar against the Iraqi dinar, the data indicates that the exchange of the dollar will touch its official rate after the approval of the draft general budget for the current year 2023, according to economist Bassem Antoine.
Antoine told Al-Maalouma, “The government and the central bank’s measures contributed to stopping the process of the dollar’s rise, in addition to providing it in the local market through the electronic platform system, and obliging all licensed banks and exchange companies to work accordingly.”
He added, “The fifth column team took advantage of the dollar’s rise during the last period, as it was rumored that the exchange rate of one hundred US dollars would reach 200,000 Iraqi dinars.”
Antoine pointed out, “The government and the Central Bank of Iraq’s rapid and deliberate measures, by providing foodstuffs and launching the electronic platform system for selling the dollar, prevented its further rise and contributed to its gradual decline during the past two days.”
Iraq breaks the restrictions of the dollar
The leader of the State of Law Coalition, Jassem Muhammad Jaafar, confirmed Iraq’s intention to support OPEC’s plans regarding selling oil without dealing in dollars, indicating that this step will support the economies of all oil-exporting countries.
Jaafar said, in a statement to Al-Maalouma, that “OPEC countries are currently heading not to deal in US dollars in oil transactions, and that dealings will take place in any local currency.”
He added, “The international trend to refrain from buying and selling oil in dollars will increase the strength of the oil-exporting countries and put the American weakness to the test.”
And he pointed out that “after revealing this trend, the US dollar exchange has declined significantly and will cause a great loss for America,” noting that “depositing the sums in the American bank for oil sales money is no longer a condition.”
Today, Wednesday, the exchange rates of the dollar against the dinar witnessed stability at the dollar exchange rates in the local markets in all governorates of the country, as the selling price reached 141,000 dinars per 100 dollars, while the purchase prices reached 139,000 dinars per 100 dollars, in the capital, Baghdad.
The Central Bank of Iraq’s sales of foreign currency rose today, Wednesday, to record about 187 million US dollars.
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