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Parliamentarian: The diversity of currencies accounts for 20% of Iraq’s foreign trade
Today 16:26 1 Shares
Information/Baghdad..
Member of the House of Representatives, Baqir Al-Saadi, acknowledged today, Wednesday, that the
diversification of the currency basket now accounts for 20% of Iraq’s foreign trade.
Al-Saadi said in an interview with “Al-Ma’louma” that
“the pressure on the dollar and its repeated use as a tool by America to promote its interests in the world, including Iraq,has
begun to produce adverse results by
introducing the concept of a
basket of diverse currencies as strategic reserves for countries within their central banks, in addition to
bilateral dealing in other currencies.”". He added,
"Iraq actually began to diversify the basket of currencies and
began pumping some of them and
pushing traders to deal with them according to economic mechanisms,
which led to an increase in foreign trade by up to 20%, and
this is a positive indicator." He pointed out that
"the demand to deal in other countries' currencies will reduce the pressure of the dollar on the parallel market and lead to a reduction in its prices, and
thus its impact will no longer be greater," pointing out that
"there is a different strategy in the financial dealing mechanisms that will
contribute to protecting hard currencies,
blocking the path to smuggling, and
supporting the sale of... The dollar at official rates.
The parallel market for dollar exchange rates witnessed relative stability in the past weeks despite the pressure due to the decisions of the Iraqi Central Bank by warding off the risks of smuggling and determining import mechanisms. Ended 25 February
https://almaalomah.me/news/56744/economy/برلماني:-تنوع-العملات-يستحوذ-على-20-من-تجارة-العراق-الخارجية
Today 16:26 1 Shares
Information/Baghdad..
Member of the House of Representatives, Baqir Al-Saadi, acknowledged today, Wednesday, that the
diversification of the currency basket now accounts for 20% of Iraq’s foreign trade.
Al-Saadi said in an interview with “Al-Ma’louma” that
“the pressure on the dollar and its repeated use as a tool by America to promote its interests in the world, including Iraq,has
begun to produce adverse results by
introducing the concept of a
basket of diverse currencies as strategic reserves for countries within their central banks, in addition to
bilateral dealing in other currencies.”". He added,
"Iraq actually began to diversify the basket of currencies and
began pumping some of them and
pushing traders to deal with them according to economic mechanisms,
which led to an increase in foreign trade by up to 20%, and
this is a positive indicator." He pointed out that
"the demand to deal in other countries' currencies will reduce the pressure of the dollar on the parallel market and lead to a reduction in its prices, and
thus its impact will no longer be greater," pointing out that
"there is a different strategy in the financial dealing mechanisms that will
contribute to protecting hard currencies,
blocking the path to smuggling, and
supporting the sale of... The dollar at official rates.
The parallel market for dollar exchange rates witnessed relative stability in the past weeks despite the pressure due to the decisions of the Iraqi Central Bank by warding off the risks of smuggling and determining import mechanisms. Ended 25 February
https://almaalomah.me/news/56744/economy/برلماني:-تنوع-العملات-يستحوذ-على-20-من-تجارة-العراق-الخارجية
