The dollar currency and next to it the Iraqi dinar
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Baghdad - Economy News
Iraqi economists called on state officials to eliminate dollarization in the economy, in order to meet the growing demand for the dollar currency.
And the Central Bank of Iraq launched a series of measures to counter the rise in the exchange rate of the dollar against the dinar, including the settlement of private sector trade between Iraq and China, in the yuan currency through the American JPMorgan Bank.
The economist, Mahmoud Dagher, told Al-Iqtisad News that businessmen and importers have begun to increase their numbers to go to banks to obtain dollars to cover imports, and this is a very important step that will contribute to reducing the demand for dollars in the parallel market.
He added that selling goods in foreign currencies inside the Iraqi market increases demand, and this is called dollarization, a procedure that shakes the citizen's confidence in his currency.
On the other hand, economist Aqil al-Ansari told Al-Iqtisad News that the state must control dollarization by preventing the sale of goods in the local market in dollars or any other currency except for the Iraqi dinar.
He stressed that this matter will lead to reducing the demand for the dollar, and therefore the dollar will go to the main needs to cover Iraq's imports of goods, indicating that the last consumer must pay in the dinar currency, while the main importer is the one who buys the dollar from the banks.
He pointed out that what is happening now is the organization of foreign trade for Iraq, which is a very important measure for the Iraqi economy and ends the chaos that was taking place.
Added 02/26/2023 - 10:49 AM
Updated 2023/02/26 - 2:18 PM
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