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Economic expectations that the dollar will lose 20% of its economic power early next year
December 13 14:10
Information / Baghdad..
The Diyala Chamber of Commerce confirmed, on Wednesday, that the dollar will lose 20% of its influence in Iraqi markets during 2024.
The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, said in an interview with Al-Maalouma,
“Washington used the dollar 4 times during 2023 to pressure Baghdad to achieve a political agenda, which led to provoking crises and raising prices at rates of up to 10%, especially for basic materials, due to the influence of the dollar’s liquidity and its control.” About 90% of transactions are done directly. He added,
"The openness of the Sudanese government and its adoption of a basket of other currencies to cover foreign exchanges is a step in the right direction," pointing out that
"the dollar will lose 20% of its influence in the markets during 2024 due to companies and traders resorting to a basket of currencies, including the Chinese yuan, the euro, and others." He pointed out that
"Baghdad's pressure to end the dollarization of Iraqi markets and adopt electronic trading will have a positive impact in reducing the demand for the dollar,
which will give flexibility and stability to the exchange rate."
In the past months, the Iraqi markets suffered from instability in the dollar exchange rates and its direct impact on the markets. Ended 25 February
https://almaalomah.me/news/49956/economy/توقعات-اقتصادية-بفقدان-الدولار-20-من-سطوته-الاقتصادية-مطلع-ا
December 13 14:10
Information / Baghdad..
The Diyala Chamber of Commerce confirmed, on Wednesday, that the dollar will lose 20% of its influence in Iraqi markets during 2024.
The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, said in an interview with Al-Maalouma,
“Washington used the dollar 4 times during 2023 to pressure Baghdad to achieve a political agenda, which led to provoking crises and raising prices at rates of up to 10%, especially for basic materials, due to the influence of the dollar’s liquidity and its control.” About 90% of transactions are done directly. He added,
"The openness of the Sudanese government and its adoption of a basket of other currencies to cover foreign exchanges is a step in the right direction," pointing out that
"the dollar will lose 20% of its influence in the markets during 2024 due to companies and traders resorting to a basket of currencies, including the Chinese yuan, the euro, and others." He pointed out that
"Baghdad's pressure to end the dollarization of Iraqi markets and adopt electronic trading will have a positive impact in reducing the demand for the dollar,
which will give flexibility and stability to the exchange rate."
In the past months, the Iraqi markets suffered from instability in the dollar exchange rates and its direct impact on the markets. Ended 25 February
https://almaalomah.me/news/49956/economy/توقعات-اقتصادية-بفقدان-الدولار-20-من-سطوته-الاقتصادية-مطلع-ا
