THE DOLLAR IN THE PARALLEL MARKET.. AL-SUDANI’S ADVISOR PRESENTS A DIFFERENT VISION AND ECONOMIC EXPERTS: AN IMAGINARY STABILITY?
The advisor to the Iraqi Prime Minister disagreed with what four economic experts said regarding the “stability” of the US dollar exchange rate against the Iraqi dinar, stressing that “the stability of the dollar is real and solid and not imaginary as some believe.” However, the economic experts said that the stability is “not reassuring,” and what is happening now is a decrease in the dollar’s volatility, while stability will occur when the dollar returns to the official price of the Central Bank.
The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, says, “The exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in influencing the stability of the general price level, which has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1,220 dinars per dollar. It is a stable trend for the exchange rate and the stable external value of the dinar revolves around it, which is embodied by the state of stability in the relative prices of goods and services to a large extent.”
(Mnt Goat -Did Saleh just say that import payments are paying out at a rate of 1,220 per dinar up from 1,320? Yes, I can see he did in this article. He said it is stable trend and it can only mean upwards. So what rate are they reaching for could it be 1166ish? What do we make of this statement? See the full article in the articles section of today’s Newsletter.)
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