The imbalance of the dinar and the toman against the dollar caused a loss of 80% of Sulaymaniyah merchants
The imbalance of the dinar and the toman against the dollar caused a loss of 80% of Sulaymaniyah merchants
2022-12-20 00:51
Shafaq News/ Specialists in the field of financial transactions in Sulaymaniyah Governorate confirmed today, Tuesday, that 80% of the currency dealers in the province incurred losses due to the instability of the price of the Iranian “Toman” and the Iraqi dinar against the foreign currency, “the dollar”.
The financial expert, Shwan Muhammad, told Shafaq News agency that the instability of the Iranian “toman” price against the foreign currency “dollar” is due to the instability of the positions of the Islamic Republic of Iran in its negotiations with the United States of America, stressing that Iran’s instability in those negotiations negatively affected the reality of the Iranian currency. In global markets, it was also reflected in the economic reality of Iranian citizens and everyone who deals in the Iranian currency.
Shwan pointed out that the value of the Iranian “toman” declined today by 6.5 points compared to yesterday, as the price of (100) US dollars yesterday amounted to (3.925) million Iranian “tomans.” Today, the “toman” decreased against the dollar to reach a value of (100). Dollars to (3.980) million “tomans”.
As for the situation of the Iraqi dinar against the US dollar, Schwan indicated that the situation of the dinar suffers from a clear fluctuation against the US dollar, and this is due to the economic policy of the Iraqi government and the smuggling of about 60% of the dollar out of the country, which is pumped by the Central Bank of Iraq to the markets through commercial banks in Iraq.
He explained that all the steps that the Iraqi government intends to follow in the face of the instability of the value of the local currency against the foreign currency will not succeed if the transactions of private banks that take dollars from the Central Bank of Iraq are controlled.
Regarding the repercussions of the instability of the price of the Toman and the dinar in financial transactions, Shwan confirmed that 80% of the currency dealers in Sulaymaniyah were affected by that situation and incurred great losses.
shafaq.com
