Syria is one of the reasons… 4 possibilities for the “secret” of the dollar’s contraction against the Iraqi dinar
Syria is one of the reasons… 4 possibilities for the “secret” of the dollar’s contraction against the Iraqi dinar
2025-05-18 | 05:50
The economic expert reviewed Safwan Qusay Today, Sunday, 4 internal and external reasons led to the decline in the dollar exchange rate in Iraq About two months ago, including reasons related to changing the Syrian regime.
Qusay told Sumaria News, “The value of the dollar in the informal market in Iraq was affected by the recent events that took place in…Syria Syria was within the circle of prohibited transfers, but with the lifting of sanctions and the reversal of transactions towards Syrian markets, demand for dollars in the informal market in Iraq decreased. The same applies to the Lebanese side. Such markets did not deal directly with Iraqi banks, and now they are allowed to deal directly with Iraqi banks.
He considered that “such an issue will lead to a gradual decline in the dollar in the informal market, as well as the banking reforms initiated by the government in cooperation with Oliver Wyman Company by opening windows for international correspondents and expanding the scope of investigation into groups requesting dollars in the informal market and arranging their papers for the purpose of clearly entering Iraqi banks and benefiting from the official rate of 1,320 dinars per dollar, and this is what contributed to reducing the demand for the dollar in the parallel market.”
Qusay pointed to a third reason that led to the decline in demand for the dollar in the informal market and consequently the decline in the price of the dollar, and this reason is represented by “the presence of hesitation in the import process by most traders because the trade war between Russia And the European Union and between US America and China and this Customs The opposing factors led to a delay in large-scale import operations, which led to a decrease in demand for the dollar in the informal market.”
He added: “We look forward to reaching an understanding on taxes exchanged between China” The United States of America, because this will be reflected in an increase in the price of a barrel of oil and a decrease in demand for the dollar in the informal market.”
He explained that “such measures, which are a combination of government reform and external variables, led to a decline in the dollar in the informal market. The global price of the dollar also declined as a result of the US administration’s desire to pay off its external debt, which amounts to 36 trillion dollars, with a weak dollar. However, this matter depends on the renewal policy and the interest rate of the US Federal Reserve on the dollar price.”
For about two months, the dollar price in the parallel market in Iraq has stabilized around 143,000 dinars per $100, after hovering between 148 and 150,000 dinars per $100 in previous months.
alsumaria.tv
