Today, Saturday, financial expert Ahmed Saddam cited three factors for the recent increase in the US dollar’s value against the Iraqi dinar.
Saddam told , “This increment from 148,000 to 152,000 for each hundred bucks is connected to the conflict on Lebanon and the subsequent pressures in Iraq. This indicates that the recent rise is the result of low expectations, which speculators typically use to boost the dollar exchange rate.
“This matter I believe constituted a relative restriction on some other banks that trade in dollars in the parallel market and thus generated expectations of a decrease in the level of cash dollars in the parallel market,” he continued. “In addition to the recent tightening by the Central Bank of Iraq, especially after imposing guardianship on three banks,”
“We can also say that the local trade movement is relatively active with the start of the new school year, and this prompts many small traders to request dollars from the parallel market to settle their commercial transactions, which leads to an increase in the dollar exchange rate,” he continued.
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