Economic warnings .. The citizen will be a victim of the high dollar exchange rate

[Mary B]

Economic warnings .. The citizen will be a victim of the high dollar exchange rate

03/04/2020

 

  

Information / private ..
Economic expert Wissam Al-Tamimi warned, on Friday, against the high exchange rates of the dollar in local markets, pointing to most commodities that will witness a rise in prices, especially since most of them arrive in Iraq through import.
Al-Tamimi said in a statement to "Information", that "the central bank has a cash reserve in excess of $ 60 billion, and therefore it is able to curb the rise in the exchange rate of the dollar in local markets."
He added that "raising the dollar exchange rate may be taken by the government as an excuse to compensate for the losses in oil selling prices, but that will make the citizen a victim of the dollar, especially since many transactions take place in dollars, in addition to the fact that most of the goods are imported from outside the country and purchased in dollars."
And that "the positive side of the high dollar exchange rate is the resort of most investors in the private sector to setting up factories inside IraqInstead of importing goods at a high price from abroad, which will boost national production, Iraq may turn from an importing country to an exporter within 10 years. ” 25 n ended

 

https://www.almaalomah.com/2020/04/03/466316/

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Economic warnings .. The citizen will be a victim of the high dollar exchange rate

 

 

 

09:38 - 03/04/2020

 

Economic expert Wissam Al-Tamimi warned, on Friday, against the high exchange rates of the dollar in local markets, pointing to most commodities that will witness a rise in prices, especially since most of them arrive in Iraq through import.

Al-Tamimi said in a statement to "Information", that "the central bank has a cash reserve in excess of $ 60 billion, and therefore it is able to curb the rise in the exchange rate of the dollar in local markets." He added that "raising the dollar exchange rate may be taken by the government as an excuse to compensate for the losses in oil selling prices, but that will make the citizen a victim of the dollar, especially since many transactions take place in dollars, in addition to the fact that most of the goods are imported from outside the country and purchased in dollars."

And that "the positive side of the high dollar exchange rate is the resort of most investors in the private sector to setting up factories inside Iraq instead of importing goods at a high price from abroad, which will boost national production, Iraq may turn from an importing country to an exporter within 10 years.”