The market charts a new future for the price of the dollar in Iraq, far from the "official pricing" .. Expectations of lower exchange rates as a "fait accompli"
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The market charts a new future for the price of the dollar in Iraq, far from the "official pricing" .. Expectations of lower exchange rates as a "fait accompli"
Admin Mon Mar 01, 2021 4:29 pm
The market charts a new future for the price of the dollar in Iraq, far from the "official pricing" .. Expectations of lower exchange rates as a "fait accompli"
2021-03-01
Yes Iraq: Baghdad
It seems that the dollar prices in the Iraqi market have begun to sing away from the central bank's pricing, and have already begun to decline with the mounting calls to return the old pricing, following the rise in oil prices and the trend of lack of financial deficit, which negates the need for the continuation of the new price of the dollar.
And the exchange rates of the dollar against the dinar began during the past few days in the Iraqi markets, which fall within the circle of 145 thousand, as the selling prices for today, Monday, were recorded at 145.750 dinars per hundred dollars, compared to 144750 for purchase.
For his part, the expert on economic affairs, Raad Twig, suggested a decrease in the dollar’s exchange rate against the dinar as a result of the revival of the local market and the rise in oil prices.
Twig said in a press statement, that the average price of the dollar recorded a decrease from 1460 dollars, which is the official price of the Central Bank of Iraq, 1447.5 dinars for purchase and 1457.5 for sale, as a result of the recovery of sales of the Central Bank through the currency window last Thursday, to 155.984 million dollars at the official price.
He pointed out that “this move in the cash demand comes after it was met by stagnation in the Central Bank of Iraq’s dollar sales since the Iraqi dinar price was reduced as a result of the presence of excessive real domestic demand for imported goods, fearing an extension of urban periods as a result of the epidemic, as well as merchants’ reliance on contentment with the steadfastness of a decision. The Central Bank reduced the exchange rate of the Iraqi dinar, and the Ministry of Finance pledged to compensate traders and contractors for their losses due to the decrease in the price of the dinar.
He explained that the decisive issue in the decrease in the price of the dinar is the increase in the reserves of the Central Bank of Iraq from 15 billion dollars to 55 billion dollars as a result of the rise in oil prices to 67 dollars per barrel and the decrease in the domestic demand for the dollar. No increase in oil prices and the arrival of vaccines in Iraq.
The economist expected more oil gains, which amount to 20% per month, and that the sale of oil would reach $ 70 a barrel
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2021-03-01
Yes Iraq: Baghdad
It seems that the dollar prices in the Iraqi market have begun to sing away from the central bank's pricing, and have already begun to decline with the mounting calls to return the old pricing, following the rise in oil prices and the trend of lack of financial deficit, which negates the need for the continuation of the new price of the dollar.
And the exchange rates of the dollar against the dinar began during the past few days in the Iraqi markets, which fall within the circle of 145 thousand, as the selling prices for today, Monday, were recorded at 145.750 dinars per hundred dollars, compared to 144750 for purchase.
For his part, the expert on economic affairs, Raad Twig, suggested a decrease in the dollar’s exchange rate against the dinar as a result of the revival of the local market and the rise in oil prices.
Twig said in a press statement, that the average price of the dollar recorded a decrease from 1460 dollars, which is the official price of the Central Bank of Iraq, 1447.5 dinars for purchase and 1457.5 for sale, as a result of the recovery of sales of the Central Bank through the currency window last Thursday, to 155.984 million dollars at the official price.
He pointed out that “this move in the cash demand comes after it was met by stagnation in the Central Bank of Iraq’s dollar sales since the Iraqi dinar price was reduced as a result of the presence of excessive real domestic demand for imported goods, fearing an extension of urban periods as a result of the epidemic, as well as merchants’ reliance on contentment with the steadfastness of a decision. The Central Bank reduced the exchange rate of the Iraqi dinar, and the Ministry of Finance pledged to compensate traders and contractors for their losses due to the decrease in the price of the dinar.
He explained that the decisive issue in the decrease in the price of the dinar is the increase in the reserves of the Central Bank of Iraq from 15 billion dollars to 55 billion dollars as a result of the rise in oil prices to 67 dollars per barrel and the decrease in the domestic demand for the dollar. No increase in oil prices and the arrival of vaccines in Iraq.
The economist expected more oil gains, which amount to 20% per month, and that the sale of oil would reach $ 70 a barrel
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