Most notably the US Treasury.. The reasons for the rise in dollar prices in the Iraqi markets
Most notably the US Treasury.. The reasons for the rise in dollar prices in the Iraqi markets
7-22-2023
Information / special.
Today, Saturday, the economist Nabil Al-Tamimi explained the relationship of the US Treasury Department with the rise in the exchange rates of the dollar in the local markets, while confirming that there is a great demand for the dollar away from the window for selling the currency.
Al-Tamimi said, in an interview with Al-Maalouma Agency, that “the rise in dollar prices in the Iraqi markets recently came as a result of the recent US sanctions, by stopping the latter four banks from entering the currency sale auction,” noting that “the US Treasury also decided to stop 14 other banks in Iraq.”
He added, “The central bank’s sales during the past weeks decreased by a large percentage, exceeding 50% of the average sales in the past months, as a result of the US sanctions.”
The economist explained, “These measures led to a scarcity of the dollar in the markets, which caused its rise in the black markets by 2-3 percent.”
And Al-Tamimi said, “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.”
Earlier in the day, a member of the State of Law Coalition, Ibrahim Al-Sakini, accused the United States of trying to put the current government against the people by returning the dollar crisis to the destination, while the decision to remove 14 Iraqi banks from the electronic dollar selling platform was considered Washington’s first step to raise the exchange rate of the dollar.
And the US Treasury decided, during the past week, to stop 14 Iraqi banks from trading and selling hard currency, which caused a rise in the exchange rates of the dollar in the local markets.
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