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What happens if the dollar sale window stops? .. An economist answers
economic Last update 02/22/2022 | 7:58 pm
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Information / Baghdad..
On Tuesday, the professor of economics at the University of Basra, Nabil Al-Marsoumi, expected the possible scenario in the event that the window for selling the dollar in Iraq was stopped.
Al-Marsoumi said, in a Facebook post, which was seen by / the information / that “the oil dollar that the Ministry of Finance sells to the Central Bank of Iraq, which is almost the only source of supply for the dollar in Iraq, and
when the window for selling the dollar in the Central Bank stops, the dollar supply will drop to almost zero, which means .
He added, "The dinar exchange rate will roll down to very low levels that may reach the level of 4000 dinars against the dollar, i.e. to a lower level than the levels of the economic blockade in the nineties due to the large volume of imports in Iraq, which exceeds 40 billion dollars annually,
and because the population today has increased By about 20 million people, and that people’s needs have varied and increased, and most of them come from abroad, and therefore the volume of imports has doubled several times compared to the time of the siege.”
He considered that “the call to abolish the currency sale window, which is the only supporter of the dinar exchange rate, is a kind of absurdity or economic adolescence at best, but
what is required today is to regulate the foreign exchange market in Iraq and to confront the worsening cases of corruption in it, which amount to billions of dollars annually.” finished/25h
What happens if the dollar sale window stops? .. An economist answers
economic Last update 02/22/2022 | 7:58 pm
sharing
Information / Baghdad..
On Tuesday, the professor of economics at the University of Basra, Nabil Al-Marsoumi, expected the possible scenario in the event that the window for selling the dollar in Iraq was stopped.
Al-Marsoumi said, in a Facebook post, which was seen by / the information / that “the oil dollar that the Ministry of Finance sells to the Central Bank of Iraq, which is almost the only source of supply for the dollar in Iraq, and
when the window for selling the dollar in the Central Bank stops, the dollar supply will drop to almost zero, which means .
He added, "The dinar exchange rate will roll down to very low levels that may reach the level of 4000 dinars against the dollar, i.e. to a lower level than the levels of the economic blockade in the nineties due to the large volume of imports in Iraq, which exceeds 40 billion dollars annually,
and because the population today has increased By about 20 million people, and that people’s needs have varied and increased, and most of them come from abroad, and therefore the volume of imports has doubled several times compared to the time of the siege.”
He considered that “the call to abolish the currency sale window, which is the only supporter of the dinar exchange rate, is a kind of absurdity or economic adolescence at best, but
what is required today is to regulate the foreign exchange market in Iraq and to confront the worsening cases of corruption in it, which amount to billions of dollars annually.” finished/25h
