An economist talks about the reason for the high price of the dollar against the Iraqi dinar, and is likely to return to normal
04/02/2020 15:34
Baghdad today - special
Economist Abdul Rahman Al-Mashhadani revealed, Thursday (April 2, 2020), the reason for the high exchange rates of the dollar, while it is likely that it will fall soon.
Al-Mashhadani said in an interview with (Baghdad today), that "the rise in the price of the dollar in the markets is due to the Central Bank and banking bureausstopping work, as a result of the health embargo that the country is witnessing, which led to restricting sales operations in the local currency window and external transfers."
He added, "The Central Bank made a decision yesterday to allow 4 or 5 days from the 16th to the 21st of this month to implement external requests and transfers of food and medical supplies."
Al-Mashhadani added, "Once the central bank's measures are implemented, the price of the dollar may drop to return to its normal level of 120,000 yen."
Earlier today, Thursday, the foreign currency markets in Iraq recorded a slight decrease in the exchange rate of the US dollar against the Iraqi dinar, after the rise recorded during the past days.
The prices of buying and selling dollars in banking companies and offices are as follows:
The selling price of one dollar is 1260 dinars, or 126 thousand dinars per hundred dollars.
The purchase price of the dollar is 1,250 dinars, or 125 thousand dinars per hundred dollars.
It is noteworthy that these prices are not official due to the closure of the Kifah Stock Exchange due to a curfew on the prevention of healthy Corona virus prevention.
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