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A government official believes that the dollar exchange rate will rise as a result of the decrease in central sales
Shafaq News/ An Iraqi government official suggested, on Monday, that the exchange rate of the US dollar against the dinar will continue to rise as a result of the decrease in cash sales in the Central Bank auction.
The official told Shafaq News Agency, "The decline in cash sales in the bank's auction caused a rise in the dollar's price in the local markets," noting that "cash sales on Monday fell by 90 percent compared to last Thursday."
He added that "weak demand for the dollar in the markets is behind the decline in cash dollar sales," stressing that "the rise in the price of the dollar will not be significant if the bank continues to sell the dollar in an auction that it conducts daily."
The government official, who chose not to be named, pointed out that "the decline in local market activity is one of the main factors in the decline in dollar prices during the past days."
The exchange rates of the dollar rose against the Iraqi dinar, bringing the prices on the Central Kifah Stock Exchange in Baghdad this morning to 148,250 thousand dinars for every 100 dollars.
Cash sales decreased in the Central Bank auction today, Monday, to reach 4.500 million dollars, compared to Thursday, which amounted to more than 42 million dollars.
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The official told Shafaq News Agency, "The decline in cash sales in the bank's auction caused a rise in the dollar's price in the local markets," noting that "cash sales on Monday fell by 90 percent compared to last Thursday."
He added that "weak demand for the dollar in the markets is behind the decline in cash dollar sales," stressing that "the rise in the price of the dollar will not be significant if the bank continues to sell the dollar in an auction that it conducts daily."
The government official, who chose not to be named, pointed out that "the decline in local market activity is one of the main factors in the decline in dollar prices during the past days."
The exchange rates of the dollar rose against the Iraqi dinar, bringing the prices on the Central Kifah Stock Exchange in Baghdad this morning to 148,250 thousand dinars for every 100 dollars.
Cash sales decreased in the Central Bank auction today, Monday, to reach 4.500 million dollars, compared to Thursday, which amounted to more than 42 million dollars.
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