A “fear attack” in the Iraqi markets .. The reason is the exchange rate of the dollar

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[size=52]A “fear attack” in the Iraqi markets .. The reason is the exchange rate of the dollar[/size]

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[size=45]For two days, the Iraqi markets have been living in a state of anticipation and anxiety, following a parliamentary movement, towards changing the exchange rate of the dollar against the dinar, which quickly cast a shadow over the general situation, creating a state of stagnation in activities and an unsuitable atmosphere for exchanging currencies and conducting business.[/size]
[size=45]About 40 Iraqi deputies announced, through a list bearing their names, their desire to adjust the exchange rate of the  [You must be registered and logged in to see this link.]  against  [You must be registered and logged in to see this link.] , but gradually.[/size]
[size=45]Over the previous years, the exchange rate of one dollar was 1200, but in 2020,  [You must be registered and logged in to see this link.] announced the amendment of the exchange rate to 1450 dinars, to one dollar, to meet the drop in oil prices.[/size]
[size=45]As  [You must be registered and logged in to see this link.]  is one of the importing countries for most of its products, and its complete dependence on the dollar, which is the second currency in the country, any news of changes in  [You must be registered and logged in to see this link.] is directly reflected in the market and commercial movement.[/size]
[size=45]sharp disagreements[/size]
[size=45]In turn, a source in  [You must be registered and logged in to see this link.] , who declined to be named, confirmed to "Sky New Arabia" that there is a difference in views and sharp differences between the members of the Council regarding the exchange rate of the dollar.[/size]
[size=45]• Some deputies see the increasing impact of the current price on the poor classes, while others talk about the gains of the recent change in 2020.
• Some political blocs are pressing towards adjusting the exchange rate, to achieve financial goals and objectives, through the companies they own.
• Some analysts submitted a financial study to the House of Representatives, which included the existence of risks if the amendment was made directly and quickly.
• It was agreed between the members of the Finance Committee to communicate with the various parties in the Iraqi market, and to approach them about the matter, to consider the extent of its impact on them.
• The recent speculations and the rise and fall of the dollar's exchange rate came due to the manipulation of some major traders, and the citizens' concern as well.[/size]
[size=45]After the members of the House of Representatives announced their desire to adjust  [You must be registered and logged in to see this link.] , the dollar fell quickly, to less than 1450, in the local market, although it was at 1480, which negatively affected the commercial movement, as some traders seek to invest in this atmosphere and buy the dollar at a lower price, Hoping to sell it later.[/size]
[size=45]rumors and speculation[/size]
[size=45]In turn, the economic advisor to the Prime Minister, Mazhar Muhammad, confirmed that “the decline came as a result of rumors about the intention to raise the exchange rate of the Iraqi dinar, which caused panic among some to get rid of what they possessed of foreign exchange, which is a harmful speculative act and falls under the rumor factor or the so-called Colorful market information.[/size]
[size=45]Saleh added, to the local "Shafaq News" website, that "this information is not pure, the aim of which is to buy dollars at a cheaper price from those holders affected by the impure colored information in order to achieve profits or quick gains."[/size]
[size=45]In the main Al-Shorja market in the center of the capital, Baghdad, the atmosphere seemed more clearly confused, as many traders stopped importing their goods from abroad, in anticipation of any changes to the price of the dollar officially, which would confuse their business, especially as some of them will incur financial losses.[/size]
[size=45]Selling savings in dollars[/size]
[size=45][You must be registered and logged in to see this link.] witnessed   a tireless movement by citizens, to sell their hoarded savings in dollars, in anticipation of a decrease in its value, which exposes them to losses.[/size]
[size=45]The expert in economic affairs, Salam Sumaisem, confirmed that “the dollar’s ​​exchange rate according to the current data should not be changed now, and it is not an easy and easy issue, as it cannot be taken with a hasty decision, but what is happening now is media and propaganda intimidation. This is not part of economics at all.”[/size]
[size=45]Sumaisem added in a statement to "Sky News Arabia" that "if this decision takes place, Iraq will incur financial losses estimated at 52 trillion dinars (more than 35 billion dollars), especially since Iraq is linked to obligations in some international transactions."[/size]
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