Dr. Khaled Haider, an academic and economic specialist, said on Tuesday that the dollar’s value versus the Iraqi dinar will settle at government levels by the start of next year.
Dr. Khaled Haidar stated in a statement to Shafaq News Agency that the current political situation is inextricably linked to the region’s financial and economic situation, and that the recent events in Gaza, as well as the accusations leveled at Iran for supporting Hamas, are all reasons for citizens to expect that this situation will affect the economic situation, including the financial one, since Iraq is a key player in the region. It is a crucial economic region for Iran since a share of its foreign cash is sent to its eastern neighbor.”
He stated that “administrative and financial corruption in Iraq plays a major role in the exchange rate difference, especially those who benefit from this difference, prompting the Central Bank of Iraq to pump large amounts of dollars into the currency auction, ranging from 200 to 250 million dollars daily to cover the market’s need for currency, in While the actual daily need ranges between $190 to $200 million, the bank is pumping more than that in an attempt to cover the market’s need for currency, in While the actual daily need ranges between $1
“Near-term expectations may be inaccurate,” Haider said, “but it is expected, and according to a scientific economic reading, that the market price of the dollar will approach government pricing at the beginning of next year after the election.”
The economic expert confirmed that the fluctuation of the dollar exchange rate “reflected negatively on the citizen, as today the exchange rate of 100 dollars reached more than 164 thousand Iraqi dinars, especially when we consider that until the year 2020, the official exchange rate was 118 thousand dinars for 100 dollars, while it now ranges above 160 thousand dinars.” This difference is undoubtedly reflected in consumer goods pricing, as Iraq is a consumer country.”
Earlier today, a Shafaq News Agency journalist reported that dollar prices declined with the shutdown of Baghdad’s main Al-Kifah and Al-Harithiya stock markets, with 165,250 dinars recorded against 100 dollars, while prices this morning were 166,000 dinars against 100 dollars.