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An Economist rules out the dollar's return to its previous price
Saturday 26 , February 2022 | Economy Read Counter 49
Baghdad / NINA / - The Economic Expert, Raad Twij, ruled out the return of the dollar exchange rate to the previous price of 118 thousand Iraqi dinars.
Twij said in a statement to the National Iraqi News Agency / NINA /: “In view of the insistence of the Central Bank and the Ministry of Finance on the grounds that the recent change in the exchange rate was a final and decisive matter, it is unlikely to return to the previous exchange rate, especially since it has been a long time.”
He noted that "the Iraqi economy, with all its monetary and real sectors, has rebalanced the new price according to the market system.
He added: "Although the decision harmed many segments, especially the poor,
it reduced the smuggling of hard currency to other countries, and
the demand for hard currency is still high and increasing." / End
An Economist rules out the dollar's return to its previous price
Saturday 26 , February 2022 | Economy Read Counter 49
Baghdad / NINA / - The Economic Expert, Raad Twij, ruled out the return of the dollar exchange rate to the previous price of 118 thousand Iraqi dinars.
Twij said in a statement to the National Iraqi News Agency / NINA /: “In view of the insistence of the Central Bank and the Ministry of Finance on the grounds that the recent change in the exchange rate was a final and decisive matter, it is unlikely to return to the previous exchange rate, especially since it has been a long time.”
He noted that "the Iraqi economy, with all its monetary and real sectors, has rebalanced the new price according to the market system.
He added: "Although the decision harmed many segments, especially the poor,
it reduced the smuggling of hard currency to other countries, and
the demand for hard currency is still high and increasing." / End
