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Baghdad/ Mustafa Al-Hashimi
In the past few days, markets have recorded a relative rise in the exchange rate of the dollar against the Iraqi dinar, as well as the rise in gold prices domestically, at a time when specialists countthis rise within normal rates and not to be afraid, because the circumstances that Iraq has gone through in the past have proved this.
Gold prices on Friday recorded 260,000 dinars, while the dollar exchange rate reached 122,000 Iraqi dinars against 100 dollars, up from 124,000 dinars to 100 dollars last week.
"The appreciation of the dollar exchange rate is influenced by the circumstances, news and general conditions as a temporary ascent and will return to normal levels, but it will take at most one or two weeks," said Banking Advisor Dr. Essam Al-Mahaweli.
"This price fluctuation will continue for a while until the gap between supply and demand returns to normal," he said.
Calling for "not to buy the dollar and deal
In buying and selling and relying on daily trading on the dinar, this will reduce the demand for it as supply increases."
"Therefore, abundance will contribute
so much by lowering its exchange rate.""
"The dinar must be supported at this economic stage in Iraq, which will alleviate the burden of low-income people and the poor segments of society," he said.
"Activating the productive sectors would reduce the effects of the depreciation of the dinar against the dollar, as it ultimately reduces imports of goods that can be produced and manufactured locally and which cost a lot of money that can be used and invested in the revitalization of those sectors," he said.
He stressed that the Central Bank
A solid institution capable of processing
Such an imbalance and that Iraq is a rich country
"The prices will return to normal after a period of time," he said.
"Such an imbalance in the exchange rate is possible as a result of the circumstances that the country is going through," said economist Firas Amer, adding that "this reality has been experienced by Iraq in the past after the stability of the dollar exchange rate in 2012 and 2013."
"The rise in the price of gold and the dollar in Iraq is related to the economic threats and concerns that the country may face due to regional conditions and fears of conflicts in the region that could have repercussions on the country," he said.
"Iraq is an oil-producing country," he said.
And that the news i've had
The various media have created an unjustified panic among Iraqis."
Pointing out that the market now
It is controlled by the Central Bank, except from some weak souls who take advantage of these conditions to raise prices, there is a general confusion in the gold markets and exchange rates domestically."
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