An Economic Analysis Of The Reasons For The Rise In The Exchange Rate In Iraq.. This Is America’s Role, 18 SEPT

An Economic Analysis Of The Reasons For The Rise In The Exchange Rate In Iraq.. This Is America’s Role

Information/private..  Today, Monday, an informed economic expert revealed the main reason behind the continued rise in dollar exchange rates in Iraqi markets, while he considered that the Central Bank’s negotiations with US Treasury aid “were not successful.” 

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The expert said, in an interview with the Maalouma Agency, that “the rise in the dollar exchange rates in the Iraqi markets came as a result of the recent decision of the Central Bank of Iraq, which stipulated reducing cash sales to exchange companies of various types by half, which was implemented since yesterday.”

He added, "The companies that used to get two million now have only one million, for example," noting that "this decision will lead to a large deficit in the local markets, because the exchange companies' sales go in parallel."

The economist (who preferred not to reveal his name) stated that “the decision to reduce the sales of exchange companies was taken at the request of the US Secretary of the Treasury during her visit to Baghdad.”

The expert stated, “The central bank negotiations with the American side were certainly not successful, and the evidence for this is the lack of control over the rise in exchange rates.”

Today, Monday, the dollar exchange rates witnessed a significant rise in the Iraqi markets, reaching more than 158 thousand dinars for every 100 dollars, amid fears that this rise will continue.

Earlier, the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, discussed with the Assistant Secretary of the US Treasury, Elizabeth Rosenberg, bilateral relations and discussed the measures taken in the field of combating money laundering and terrorist financing.   LINK