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[size=46]Sudanese advisor reveals the reason for the rise in the dollar price[/size]
Economy
09:09 - 2024-07-04
[You must be registered and logged in to see this image.]09:09 - 2024-07-04
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, revealed the reason for the continued rise in the dollar exchange rate in local markets, while stressing that this rise is short-term and does not constitute any relative importance in influencing the stability of the general level of prices.
He said that despite the fluctuations in the parallel or irregular exchange market, whose short-term fluctuations are the result of noise from colored or confusing information originating from international or regional circumstances, or the issuance of some regulatory instructions adapted to foreign currency, which some speculators are trying to exploit to generate a trend of fateful profits in the exchange market, it can be said that the fixed exchange rate system in Iraq is still based on a strong foundation consisting of the country's international reserves.
Salih added that the exchange rate of the dollar to the dinar in the parallel market does not constitute any relative importance in influencing the stability of the general level of prices, which has become stagnant due to the influence of the official exchange rate factor currently dominating foreign trade financing, amounting to 1320 dinars per dollar.
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