The dollar stabilizes in the parallel market.. Is the price madness over?
The US dollar exchange rate is witnessing remarkable stability in the parallel market in Iraq at the present time, after a period of fluctuations and rising prices.
This stability is mainly attributed to the decrease in demand for the dollar for import purposes.
Economic expert Salah Nouri told {Euphrates News} that: “The stability of the dollar exchange rate in the parallel market is due to the decrease in demand for imports by traders who import goods from neighboring countries, as a result of anticipation of the outcome of the US decisions regarding sanctions.”
Nouri stressed that “the decrease in the dollar exchange rate has a positive impact on citizens’ purchasing power, but to varying degrees depending on the type of goods, such as basic food items other than medicines.”
Is the price madness over?
This stability indicates the possibility of an end to the “price madness” that the dollar market witnessed in the previous period; however, the economic expert believes that this stability is dependent on the decisions of the United States of America regarding sanctions, which means that the market may witness other fluctuations in the future.
Its impact on citizens
The decline in the dollar exchange rate has a positive impact on citizens’ purchasing power, as they can buy more goods and services with the same amount of Iraqi dinars. However, this impact varies depending on the type of goods, as citizens benefit more from the decline in the prices of basic food items other than medicines. link
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