Economist explains the reasons for the rise in the dollar price again

Today, Sunday, economic expert Nabil Jabbar Al-Ali commented on the return of the rise in the dollar exchange rate against the dinar in local markets in Baghdad and the governorates.

Al-Ali told Al-Maalouma Agency, “The rise in the dollar exchange rate since the beginning of this week is related to the strength of supply and demand for the dollar.”

He added, “The rise in the dollar exchange rate and its reaching the threshold of one hundred and fifty thousand is related to the volume of sales provided by the Central Bank through the foreign currency sales window.”

He explained that “the more the Central Bank of Iraq’s dollar sales increase, the more it will contribute to a decrease in exchange rates in local markets.”

The exchange rate of the dollar against the dinar has recorded a significant increase over the past three days in the stock exchange and exchange shops in the capital, Baghdad, and the governorates.

America worked to destroy the Iraqi currency by imposing sanctions on private banks and preventing the dollar under many pretexts, which led in one way or another to a severe financial crisis in local markets.

Almaalomah.me