ONE OF THE REASONS WHY THE REVALUATION CONTINUES TO BE DELAYED
THE CENTRAL BANK EXPECTS DOLLAR PRICES TO DECLINE IN THE MIDDLE OF THIS YEAR
Former official in the Central Bank of Iraq, Faleh Daoud, said that the exchange rate of the US dollar will fall to less than 1,500 Iraqi dinars by next June.
(What? First they told us it would fall by December, then by the new year and now June? It is obvious the CBI can not control the rate of the parallel market unless it took drastic measures and we know what those measures are. So why are they afraid to do it? Are they being blackmailed by the corrupt?)
Faleh Daoud said in a statement followed by Mawazine News, “The dinar’s exchange rate depends on the market and demand, because the currency market plays a role in its price, not the central bank,” noting that “the recent actions of the US Treasury Department and the Federal Reserve regarding transferring the dollar to Iraq caused… In the decline in the value of the currency, which is the reason for the instability of the dinar against the dollar.”
He explained, “Relying on the electronic platform had a positive side effect on the exchange rate against the dollar and created quasi-stability in the dinar’s exchange rate, and it may rise slightly by next June.”
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