Economist says Iraqi dinar exchange rate is paving towards stability

August 14, 2013



Abbas, the economist mentioned that with an overwhelming majority, the exchange rate of dinar in comparison to the US dollar will bring stability in the Iraqi market.

In a recent interview for a local news agency, he explained the reasons for the stability of the Iraqi dinar against the dollar, which fell to independence of the Central Bank of Iraq recently in Basra.

He continued as the Central Bank set the currency doesn’t contradict the momentum in sales market to create a balance between the price and the domestic market. He further added, “This is a case of positive stability came on the back of the Central Bank’s actions to create a system for the Iraqi dinar exchange rate against other currencies.”

It has to be noted that in past few month, Iraqi dinar has experienced sharp decline against USD, though after ruling out of the sanctions of Chapter VII, dinar rate has been anticipated to go towards the stability.



http://www.iraqdirectory.com/en/2013/08/14/24787/economist-says-iraqi-dinar-exchange-rate-is-paving-towards-stability-.aspx