Expected Rise in the U.S Dollar Value Due to Current Pressures

Iraqi Dinar 123 News:– A famous economist Dr. Awad Fadhil Ismail said that Iraqi government needs a significant rise in the Iraqi dinar exchange rate against the U.S dollar, but it is impossible due to current policies of Iraqi Central Bank and Iraqi government. The government needs an increase in the Iraqi dinar value, but this desire is opposite the prediction of market speculators that are spreading news regarding a considerable rise in the value of the U.S dollar against Iraqi dinar. Most of the speculators are selling Iraqi dinar currency against the foreign currency at official exchange rate in order to get a handsome profit in the near future. It indicates a significant decline in the Iraqi dinar value against foreign currencies, especially against the U.S dollar.

Fadel further added that the exchange rate in the open currency market is showing a supposed change due to the selling Iraqi dinars at official exchange rate. He added that there is not any kind of possibility of selling the U.S dollars against a large amount of Iraqi dinar currency at CBI, so the issue of imbalance in the demand & supply in the Iraqi currency markets will be more critical. It would also increase the U.S dollar value in the Iraqi domestic markets. He stressed that the perfect should be adopted in order to control and manage the Iraqi dinar exchange rate against foreign currencies, especially against the U.S dollar. He pointed out that speculator’s behavior for continuous selling Iraqi dinar currency against foreign currencies would push upward to most of the major foreign currencies.

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