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Economist reveals the future of the dollar exchange rate in local markets 18:37 - 01/02/20180

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Economist reveals the future of the dollar exchange rate in local markets

18:37 - 01/02/2018

Information / Private ..

The economic expert Majid al-Suri, on Thursday, the future exchange rate of the dollar in the domestic markets, stressing that the high oil prices positively affected the Iraqi dinar, while pointed out that the rise in oil prices will not last long.

"The high price of oil has positively affected the Iraqi market, where we will see a large abundance in foreign currency, which raises the value of the Iraqi dinar against the dollar."

He added that "the price of selling barrels of oil amounted to 66 dollars, but this will not last long, where we will see a fluctuation in prices in the coming period, as the price of a barrel of oil between (54-56) dollars."

He explained that "the financial abundance in foreign currency (the dollar), will be met by a large investment by the giant companies in the field of reconstruction, where Iraq needs to many of these companies to rebuild the destroyed cities, in addition to other projects that Iraq will spend the oil dollars on them" .

He stressed that "Iraq sells oil at a price less than the advertiser, as the advertiser up to $ 66 a barrel, while the sale is at a lower price, because of impurities in Iraqi oil and the process of transport and delivery to other countries."

Iraq exports more than three million barrels per day, as the Asian countries import the largest proportion of Iraqi oil at a price above $ 65 per barrel, which reduces the dollar exchange rate against the Iraqi dinar due to the large financial abundance of foreign currency due to high oil prices. Finished..................................Pilfered . Thanks f26

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