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Parliamentary Finance launches its expectations regarding the course of the exchange rate during the coming period
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Economy News _ Baghdad
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Added 08/09/2023 - 12:19 PM
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Economy News _ Baghdad
The Parliamentary Finance Committee expected, on Wednesday, a decrease in the exchange rate during the coming period.
A member of the Finance Committee, Jamal Cougar, said, "The exchange rate of the dollar will decrease after the budget instructions were issued and the law took its way to implementation."
Cougar added, "The government will have to pump large amounts of dollars into the local markets in the coming days."
He pointed out, "The Iraqi state's resources are in dollars, but it needs the national currency in order to pay the salaries, which take up a large part of the budget."
And Cougar went on to say that "the presence of large quantities of the dollar on the market will lead to market sufficiency and a lack of demand, and then reduce its price to a large extent."
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Added 08/09/2023 - 12:19 PM
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