Economist: Reducing the value of the Iraqi currency why collapse in the currencies of these countries
Economy 2021/03/28 20:28
Baghdad Today _ Baghdad
The economic expert was revealed on Sunday, on Sunday, on Sunday for a surprise regarding the release of the dollar's price change against the Iraqi Dinar.
"The monetary mass in Iraq before changing the exchange behavior, was 61 trillion dinars, the government has only 20%, with 40% of the mass in neighboring countries and regional countries and 40% Banks, banks, markets, and civilian houses."
"After the new dollar pricing, banks have made a relationship with neighboring countries and foreign companies dealing with Iraqi civil banks, replacing their Iraqi currency in dollar, and stopped buying the dollar at the new price because it is appropriate."
He pointed out that "the prices in the exchange rate of some currencies of Arab and regional and high prices, either in Lebanon, Turkey, Jordan, and Syria, came as a result of its dependence on Iraq to obtain the dollar."
"The state now has 60% of Iraqi monetary mass, a positive framework, has made the file of loans and advances and its investigations through interest," said the economic expert.
"The dollar has given some fruit during a brief period."
The economic expert, Dawood Jumaili, had occurred earlier, that Iraqi funds were surprised during the previous exchange rate.
"The price of the former and adult dollar (1200), was considered a cheap exchange rate by exporting countries, so Iraq was one of the largest imported items as he adopted the exchange rate of non-real and non-scientific theories, for the purpose of dumping the market with imported goods".
"The economic expert called for" status laws in the 2021 budget to protect poor classes and owners of limited income from sudden changes in the Iraqi economy."
After the decision to reduce the exchange rate of the Iraqi Denar against the dollar, the Economic Bank of Bloomberg said that the Iraqi Central Bank's decision to amend the US dollar exchange rate against the Iraqi dinar, "reduced the value of the national currency."