Economist: The dollar of the markets may cause the collapse of the Iraqi dinar

[6ly410]

Economist: The dollar of the markets may cause the collapse of the Iraqi dinar

• Today 18:50
• Economist: Dollar markets may cause the collapse of the Iraqi dinar | Information (almaalomah-me.translate.goog)

Information/ private.

Economist Nabil Al-Ali warned, on Monday, of the continued decline of the Iraqi dinar against the dinar due to the circulation of hard currency in the local markets.

Al-Ali said in an interview with the Information Agency that "a lot of efforts are being made to strengthen the national currency by preventing any dealings in foreign currencies, and this is the case in most countries."

He pointed out that "dealing in hard currency in the local markets has serious economic effects on the dinar, and may be a reason for the collapse of the value of the national currency, as happened in Lebanon recently."

The economist explained that "this step aims to strengthen the Iraqi dinar and it will be dealt with only in the local market," noting that "this step will represent a new start to upgrade the Iraqi economy and ways to develop it continuously."

Interior Minister Abdul Amir al-Shammari had earlier issued a directive on dealing with dollars in local markets in two provinces, while the Directorate of Organized Crime conducted a campaign to disseminate the directives.

It was decided to prevent dealing with buying and selling in US dollars and adhering to the local currency, in all governorates except the Kurdistan region as a step to control the rise in dollar exchange rates in local markets. Ends/25j