Why Is The Dollar Exchange Rate Continuing To Rise? An Economist Explains
Time: 2024/10/24 Read: 2,392 times {Economic: Al Furat News} An economic expert explained the reasons for the continued rise in the dollar exchange rate against the dinar.
Abdul Rahman Al-Mashhadani told Al-Furat News Agency that "the rise in the dollar exchange rate is due to the general instability of the situation, and in such cases citizens try to switch to a future currency in anticipation of any decline, migration, or other."
He added, "There are obligations for Iraqi traders with suppliers from various countries, which pushes them to pay to avoid the losses that accompany the rise of the dollar."
Al-Mashhadani continued, "So far, there is no mechanism to solve the problem of trade with the sanctioned countries and Iran in particular, especially since the volume of trade with Iran is large and all of it is financed from the markets."
He explained, "There are no problems regarding money transfers in the Central Bank, as it sells more than 260 million dollars daily." LINK
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