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[size=45][size=41]A Sudanese advisor enumerates the reasons for the dollar's decline[/size]
10 minutes ago
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10 minutes ago
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The financial advisor to the Prime Minister, Muhammad Shiaa Al-Sudani, revealed the reasons for the decline in the exchange rate of the dollar against the Iraqi dinar in local markets.
Counselor Mazhar Muhammad Salih said in a press interview seen by Taqaddam, “The reasons for the decline in exchange rates are due to the high capabilities of managing foreign exchange reserves and good management of the direction of financing Iraqi trade, which affected the improvement of exchange rates for the parallel market.”
He added, “Parallel market prices have gradually begun to approach the official price for several reasons, including the regularity of foreign trade for the private sector through the compliance platform and the great flexibility shown by banks in their dealings with securing transfers.”
Saleh stated, “Openness to transfer in many ways, including payment cards in all their forms, importing cash into the country, and organizing financing for trade in various currencies, has created a flexible market in transactions.”
He pointed out, “The support of the large reserves in the currency market contained the market of speculators, and the improvement will continue with the Central Bank’s policy in accordance with the rules of compliance, and everyone is following the approach of improving the exchange rate due to the strength of the economy and high discipline.”
It is noteworthy that the dollar exchange rate is witnessing a decline in local markets and has reached less than 153 thousand dinars per hundred dollars.
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