The dollar is heading towards the official price and food continues to be expensive

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[size=52]The dollar is heading towards the official price and food continues to be expensive[/size]

[size=45]Baghdad / Hussein Hatem[/size]
[size=45]Since Eid al-Fitr began at the end of last week, food prices have been on the rise, despite the drop in the exchange rate in the local markets, which has burdened the Iraqi citizen and angered him.[/size]
[size=45](Al-Mada) toured one of the markets of the capital, Baghdad, but did not find out the reasons for that rise, and one of the shoppers says, "Food prices have increased despite the exchange rates reaching less than 140,000 Iraqi dinars for every hundred dollars."[/size]
[size=45]He added, "The market is confusing, and the movement in it is not as it was during the month of Ramadan," expressing his "fear of an economic crisis that might affect Iraq." And the citizen Al-Baghdadi pointed out that, “The basic materials have risen to what is not commensurate with our living income, and most of us sat in his house for more than three days on the occasion of Eid Al-Fitr, which affected his daily income.”[/size]
[size=45]Yesterday, Wednesday, the exchange rates witnessed a significant decline compared to the previous months, until the exchange rate reached 141,000 dinars, compared to 100 dollars, after it reached below 140,000 dinars yesterday, Tuesday, amid expectations that the exchange rate in the local markets will reach the official rate (1320). JD in the coming days.[/size]
[size=45]Mahmoud Dagher, a researcher in financial matters, says, “The central bank’s measures managed, during a period of three months, to control the exchange rates after they were almost unruly.”[/size]
[size=45]Dagher added, "The levels of the dinar are moving towards the official price approved by the government," stressing that "the role of speculation in the market has ended, and the central bank has become the decision-maker in the market."[/size]
[size=45]The financial researcher explained, "The central bank personified the problem facing the Iraqi dinar, and untied the remittances," noting that "the wheel of remittances began to expand." And a single trader,” noting that “a single trader does not care if his goods are sold in Iraqi dinars as long as there is stability in exchange rates.”[/size]
[size=45]In turn, the researcher in economic affairs, Nabil Jabbar Al-Ali, says, “The rate at which food prices rose in the local markets is marginal and limited,” pointing out that “it will not affect changing the consumption behavior of families, but it may be influential and pressure on families whose incomes fall below the poverty line. And Al-Ali said, "The government's food aid, represented by the food basket and the ration card, contributed to alleviating the burden of Iraqi families," noting that "the diversity and availability of the materials provided contributed to greatly alleviating the burden of these families." With regard to the decline in dollar prices, the economic researcher explained that "the central bank's procedures facilitated the passage of a lot of remittances, and only simple things were left," adding, "there was no need for irregular remittances, and therefore the dollar exchange rate decreased."[/size]
[size=45]Al-Ali expected that “the exchange rate of the dollar will stabilize at the beginning of the week at 1320 dinars per dollar, and it will be sold in the market to the citizen at 1320 or 1330 as a maximum.”[/size]
[size=45]It is noteworthy that the Board of Directors of the Central Bank held an extraordinary meeting last February, after which it decided to consider the exchange rate of the dollar 1300 and sent the decision to the Council of Ministers, while the Council of Ministers voted the next day on the recommendations of the Central Bank and considering the exchange rate as 1300 Iraqi dinars for every hundred dollars.[/size]
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