An economist explains the most important reasons for the dollar's exchange rate not returning to normal
08:47 - 01/16/2020
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The economist, Saleh Al-Hammash, explained, on Thursday, the reasons for the instability of the dollar exchange rate in the local markets, pointing out that the Iraqi citizen is the first problem in fluctuating prices in addition to the political situation and the caretaker government.
"The central bank plays a big role in stabilizing the dollar price against the dinar in the currency auction and creating a balance between supply and demand," Al-Hamash said in a statement to "The Information."
He added that "the problem of fluctuating dollar exchange rates in the local Iraqi market is due to the Iraqi citizen himself, where news and the media play a major role in spreading news about the current conditions, which makes the citizen either go to buy the dollar or stay away from it according to the current conditions."
He explained that "dollar prices are witnessing a sudden rise and fall, and the rate of increase is large, unlike what is in other countries, as a result of the citizen and the imbalance and loss of the Iraqi economy to its identity."
And that "the sudden demand for the dollar stands as a factor behind the rise and fall in the dollar exchange rate," pointing out that "the caretaker government has caused instability in the dollar exchange rate and the Iraqi economy because of the lack of budget and projects that can be worked out and creating a stable environment for the dollar." 25 n ended