An expert identifies three reasons for the return of the dollar’s ​​rise and confirms: The solution

POSTED ON[You must be registered and logged in to see this link.] BY [You must be registered and logged in to see this link.]

[size=52]An expert identifies three reasons for the return of the dollar’s ​​rise and confirms: The solution is in the Iraqi Stock Exchange[/size]

[size=45]The financial and banking expert, Saif Al-Halfi, identified three reasons for the return of the rise in the dollar exchange rate in local markets, while he placed the Iraqi Stock Exchange as a fundamental part of solving this rise.[/size]
[size=45]Financial and banking expert Saif Al-Halfi said, “The reason for the renewed rise in the dollar exchange rate in local markets is that during the previous banking work that we have gone through until now, the Iraqi economy is rentier and depends on foreign imports.” He noted that, “The Iraqi citizen is a development citizen, and the increase in the number of Iraqis and the formation of new families requires supplies, and the latter are needed by the citizen, which forces him to buy dollars.”[/size]
[size=45]Al-Halfi added, “We do not have a national industry in the country, but neighboring countries have deliberately sent their goods.” He pointed out that “the dollar price must be raised against foreign imports in order to encourage Iraqi and Arab consumers to establish industries in Iraq.”[/size]
[size=45]He stresses that “the other main problem is the high demand for the dollar due to the weakness of national industries, random imports, and the challenges of neighboring countries, as their trade balance is high by sending goods to Iraq.”[/size]
[size=45]He explains that “many speculators deliberately buy and sell dollars as a form of profitable trading.” He attributes this to “the lack of supporting sectors that encourage investment and provide opportunities for it, which in turn reduces the demand for the dollar, as many of those who request to buy dollars are speculators who benefit from temporary speculations that occur from time to time.”[/size]
[size=45]He added, “We hope that the government will encourage dealing with the Iraqi Stock Exchange, which creates job opportunities through speculation in Iraqi stocks, which in turn is a way to get rid of or reduce speculation in dollars, which provides profits valued in Iraqi dinars, while if they were in dollars, they would create commercial opportunities through speculation in dollars, which will lead to exhausting the national economy and the Central Bank, which will try to reduce and address its rise in a way that allows it to sell large quantities of imported dollars.” He added, “Speculators must be withdrawn and transferred to speculating in Iraqi stocks through the Iraqi Stock Exchange.”[/size]
[size=45]The US dollar rose against the Iraqi dinar today, Monday, in the markets of Baghdad and Erbil with the closing of the Iraqi stock exchanges, where the dollar prices recorded an increase to reach 147,850 dinars for 100 dollars, while this morning it recorded 147,650 dinars for 100 dollars, while the first increase in dollar prices was recorded after a continuous decline to reach 147,300 dinars for 100 dollars.[/size]
[size=45][You must be registered and logged in to see this link.]