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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Facts.. Why does the dollar exchange rate rise?

    Rocky
    Rocky
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    rate - Facts.. Why does the dollar exchange rate rise? Empty Facts.. Why does the dollar exchange rate rise?

    Post by Rocky Wed 26 Jul 2023, 12:08 pm

    [size=38]Facts.. Why does the dollar exchange rate rise?[/size]


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    July 26, 2023[You must be registered and logged in to see this link.]
    Baghdad / Obelisk Al-Hadath: The exchange rates of the dollar against the Iraqi dinar continued to rise in the local markets.
    The selling price of the dollar in the exchanges in the capital, Baghdad, on Wednesday, reached 157 thousand dinars for every 100 dollars, while the purchase price reached 155 thousand dinars for every 100 dollars.
    The Finance Committee is awaiting answers from the Governor of the Central Bank, Ali Al-Alaq, about the measures that the bank will take to solve the new crisis, after hosting for 5 hours in the House of Representatives.
    The Finance Committee formally demanded answers about “the measures that the bank will adopt to limit the rise in the dollar, and to control the banking sector and the currency trading file.”
    The Central Bank took measures to limit the rise in the price of the dollar, by allowing “class A and B” exchange companies to open deposit accounts with the bank in both dinar and dollar currencies, and to participate in the currency buying and selling window.
    And the high price of the dollar compared to the local currencies in Iraq and countries in general, could be a result of several economic and political factors, including supply and demand.
    And if the dollar is considered a safe haven for investments and deposits, investors may seek to buy dollars to protect their money in periods of economic instability.
    And in the event that the interest rates on dollar deposits are much higher than the interest on local deposits, investors may tend to buy dollars to achieve higher returns.
    Also, inflation rates in some countries are high, as this may lead to a decrease in the purchasing power of the local currency, and thus an increase in the value of the dollar in relation to it.
    And lead to political unrest and tensions in some countries to flee investors and search for more stable currencies such as the dollar.
    Concern about the country's ability to pay its debts or manage its economy well leads to a drop in the value of the local currency.
    US and international sanctions also contribute to lowering local currencies against the dollar, and smuggling hard currency outside the borders of countries also leads to a rise in the dollar in local markets.
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