On Tuesday, Representative Hussein Habib listed three key reasons for ending dependency on financial transactions in dollars within Iraqi markets.
In an interview with Al-Maalouma, Habib stated that “there are many solutions to end the issue of the rise in the dollar exchange rate in the country’s parallel markets, which has a direct impact on prices, especially with the presence of speculators, whales, and influential networks that benefit from any crisis in reaping profits through their control over the dollar file.”
“The most important horizon for ending the dollarization of markets in Iraq is determining the segments eligible for dealing other than the dollar, stressing the shift to dealing in the dinar at home, and pushing the parties to increase their participation in the file of providing basic materials, such as food, medicine, and other materials, and putting them in Iraqi dinars in the markets, in addition to… Reopening factories in Iraq,” he added.
He went on to say that “there are external factors affecting the dollar file, especially by Washington, but reducing imports and relying on national production is the most important factor in reducing demand for the dollar and relying on the national currency in all internal exchanges.”
In recent weeks, the dollar’s parallel market exchange rate increased and broke the barrier of 168 thousand dinars for every 100 dollars.