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The head of securities reveals the reasons for the fluctuation of the exchange rate of the dollar and what will happen after the approval of the budget
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Baghdad today - Baghdad
The head of the Securities Commission, Faisal Al-Haimus, expected a decrease in the exchange rates of the dollar against the Iraqi dinar and its stability after the approval of the 2023 budget.
Al-Haimus said, in a statement to the official newspaper, that "the Commission supports the Iraqi dinar, although it is mainly the responsibility of the Central Bank," noting that "the stability of the dinar price represents a common interest."
And that "the stability of the dinar will give confidence to new investors to enter the Iraqi market for securities."
Al-Haimus added, "The measures taken by the Central Bank led to its decline during the last stage," explaining that "the period of fluctuation in changing the exchange rate will be followed by its stability at the price of 1320 dinars."
Al-Haimus attributed the fluctuation of the exchange rate to the failure to approve the budget and thus the failure to launch projects, "expecting that" approving the budget will lead to entering into the stage of stabilizing the dinar.
He called for the necessity of supporting the government by speeding up the approval of the budget, because it will release funds to projects and enter the work phase, which will provide stability in the exchange rates of the dinar against the dollar.
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