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An economic advisor reveals the reason for the high demand among citizens to buy gold and dollars
- Time: 10/31/2023 10:25:23
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{Economic: Al-Furat News} The advisor to the Iraq Stock Exchange, Ali Al-Azzawi, revealed the reason for the high demand for buying and storing gold and dollars by citizens.
Al-Azzawi said in a press statement that this rise is an indication of popular fears of “any new economic and financial shocks in Iraq,” given what the region is going through, the continuation of the Israeli aggression on the Gaza Strip since the seventh of this month, and the expanding arena of regional conflict.
Al-Azzawi said, "The past decades of tensions have given Iraqis a culture of hoarding and hoarding gold and hard currency. This is why the market in recent days seemed affected by a widespread demand for buying gold and replacing the dinar with the dollar or euro. There are others who preferred to withdraw their money from banks and keep it in their homes."
In turn, economic expert Bashir Al-Jawahiri said, “An economic crisis targeting Iraq and the countries of the region, such as Syria, Lebanon, Iran, and perhaps Egypt, looms on the horizon due to the recent events in Gaza, and the difficult economic conditions may intensify if the conflict extends to Iraq, Lebanon, and Syria, which may lead to... To the rise in oil prices, which may be interpreted as beneficial for Iraq, but harmful, due to the sanctions on Iraq regarding the circulation of the dollar.”
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{Economic: Al-Furat News} The advisor to the Iraq Stock Exchange, Ali Al-Azzawi, revealed the reason for the high demand for buying and storing gold and dollars by citizens.
Al-Azzawi said in a press statement that this rise is an indication of popular fears of “any new economic and financial shocks in Iraq,” given what the region is going through, the continuation of the Israeli aggression on the Gaza Strip since the seventh of this month, and the expanding arena of regional conflict.
Al-Azzawi said, "The past decades of tensions have given Iraqis a culture of hoarding and hoarding gold and hard currency. This is why the market in recent days seemed affected by a widespread demand for buying gold and replacing the dinar with the dollar or euro. There are others who preferred to withdraw their money from banks and keep it in their homes."
In turn, economic expert Bashir Al-Jawahiri said, “An economic crisis targeting Iraq and the countries of the region, such as Syria, Lebanon, Iran, and perhaps Egypt, looms on the horizon due to the recent events in Gaza, and the difficult economic conditions may intensify if the conflict extends to Iraq, Lebanon, and Syria, which may lead to... To the rise in oil prices, which may be interpreted as beneficial for Iraq, but harmful, due to the sanctions on Iraq regarding the circulation of the dollar.”
Share if you like
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