Current U.S Dollar Exchange Rate in the Iraqi Domestic Markets is Not Real: Economic Analyst

Iraqi Dinar 123 News:– Iraqi Dinar 123 News:–A famous economic and financial analyst David Zayer said that the U.S dollar exchange rate against Iraqi dinar is not the real price in the country. He said in a press interview that Iraqi Central Bank is supporting the U.S dollar exchange rate against Iraqi dinar since last 10 years. The Iraqi domestic currency markets have experienced a sudden and unexpected rise in the U.S dollar exchange rate, but it is not the real price. Most of the economists have predicted that it would reach at 1500 Iraqi dinars per U.S dollar. He further added that recent decline in the Iraqi dinar exchange rate against the U.S dollar is the start of its collapse under the severe financial and economic condition in the country.

David Zayer also added that there was considerable amount of money to support the Iraqi dinar currency, but now the shortage of funds has shown the real exchange rate against the U.S dollar. He pointed out that Iraqi government should take some specific and urgent measures to support Iraqi dinar currency in order to maintain stability in the Iraqi local currency markets. It is also important to prevent reduction of the currency in uneconomical commodity in order to show the real strength of Iraqi dinar currency. Another economist Ahmed Kanani predicted that the current rise in the U.S dollar exchange rate against the Iraqi dinar is due to non-settlement of the Iraqi Central Bank and CBI should have sufficient fluidity to meet the need of Iraqi domestic currency markets.

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