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An expert warns of a "circulating proposal" to solve the dollar rise crisis in Iraq
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Baghdad today - Baghdad
Today, Tuesday (August 15, 2023), the expert in financial affairs, Hammam Al-Shamaa, confirmed that opening outlets to sell the dollar on a monthly basis for every citizen will not cause the dollar to drop and does not carry anything positive, while he warned against such a step.
Al-Shammaa told "Baghdad Today" that "the citizen needs the dollar for the purpose of travel, and does not need it for internal dealings, and for this reason any trading of any foreign currency in the local market must be prevented and dealing should be limited to Iraqi dinars," noting that "this is what the competent authorities have worked on recently." Which strengthens the local currency.
And the expert in the financial affairs stated that "opening outlets to sell the dollar on a monthly basis for every citizen, does not have any advantages. Rather, this matter will lead to an increase in currency smuggling and an increase in black transfers, and this matter will raise the dollar further in the market, as the citizen will sell the dollar to speculators, with the aim of conducting transfers." black, and that is why there is no such government approach.”
From time to time, "proposals and demands" come out to sell the dollar directly to all citizens, to eliminate the dollar's crisis and its rise in the parallel market, which experts reject.
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