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Adviser to the Prime Minister suggests a gradual decline in the dollar
Economical 2023/06/15
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Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, suggested yesterday, Wednesday, that the exchange rate of the dollar would gradually decline with the approval of the budget.
Saleh said, in a press statement: "The delay in enacting the budget law delayed fixing the new official price and thus was reflected in the exchange rate of the dollar, in addition to the increased demand for the dollar and the high spending in the Iraqi currency by citizens, merchants and the government."
He added, "Iraq currently has very good hard currency cash reserves, which are at the highest levels in Iraq's history."
Saleh pointed out that "after voting on the budget law, and fixing the official price at (1300), the coming days will witness a gradual decrease in the exchange rate of the dollar in the parallel market, until the official price is reached."
The exchange rates of the dollar against the Iraqi dinar are witnessing a significant increase in light of a battle waged by Prime Minister Muhammad Shia al-Sudani to reduce prices.
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