Identifying two phenomena behind the exchange rate drop

Walter

Economy| 08:57 – 28/12/2023

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Mawazine News – Baghdad
A member of the State of Law Coalition, Saad Al-Mutallibi, identified on Thursday two phenomena behind the decline in the exchange rate of the dollar against the Iraqi dinar, while he stressed the continued decline until next week.
Al-Mutlabi said in a statement to Mawazine News that “the decline in the exchange rate of the US dollar against the Iraqi dinar is behind two phenomena. The first is the measures of the Central Bank to facilitate the trade exchange process by entering the platform for financial transfers, which led to a decrease in demand for the dollar from the parallel market.”
As for the second phenomenon, the arrival of large shipments of the dollar to the Iraqi treasury of Iraq’s funds is in the US Federal Bank, which contributed to the provision of dollars significantly,” he added.
Al-Muttabi expected, “The dollar will continue to fall against the dinar until next week, but it needs a while to reach the official price.”

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