Representative economics: the continuation of traders boycotting the currency auction will force finance to reduce the price of the dollar
Representative economics: the continuation of traders boycotting the currency auction will force finance to reduce the price of the dollar
01-10-2021 05:22 PM – Views: 4802
Today, Sunday, a member of the Parliamentary Economy and Investment Committee, Falah Al-Khafaji, confirmed that the Ministry of Finance had failed to achieve any gain from raising the exchange rate of the dollar, indicating that the continued boycott of the currency auction would force the government to resell the dollar at the same previous rate.
Al-Khafaji said in a statement to “Tigris”, “The government has so far not sought any benefits from raising the exchange rate of the dollar against the dinar and has not achieved any positive results that yield benefits for the benefit of Iraq.”
He added that “the currency auction of the dollar in the Central Bank suffers from an oversupply due to the boycott of the dollar, as well as the presence of large quantities in the market, which will invite the government to reconsider the wrong steps taken by the Minister of Finance.”
He continued, “The proximity of the salaries of employees will force the government to pump larger quantities of the dollar to convert it into dinars to meet the salaries, which will increase the loss of the dollar’s value and its decline against the dollar.”
And the Ministry of Finance announced a month ago that the dollar’s exchange rate had suddenly risen to 145,000 dinars, which caused a doubling of the prices of basic goods and medicines, amid popular dissatisfaction with that ill-considered step.
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