Iraqi Dinar Would Become Worthless by Using Iraqi Reserves: Experts

Iraqi Dinar 123 News:– On Thursday 21st January 2016, a famous economist Mahmood Al Daghir has warned that a considerable decline in Iraqi hard cash and foreign currencies reserves would create major problems for Iraqi dinar currency in the international currency markets. It would also increase the inflation rate inside the country. He further added in his press statement that Iraqi government is looking at the option to use Iraqi hard cash reserves due to the urgent governmental need in order to support Iraqi budget deficit and for top priority expenditures in the country. He also added that it would also increase the exchange rate of the U.S dollar against Iraqi dinar.

Al Daghir further added that in the event of using Iraqi hard cash reserves would only strengthen the supply of money in the Iraqi domestic markets. It would make worthless to Iraqi dinar currency and its strength against other foreign currencies would decrease significantly in the Iraqi domestic currency markets and outside the country. Al Daghir also said that the Iraqi government has a number of options available in order to meet the financial crisis problems such as activating the industrial and agriculture sector because it doesn’t need more investments. He also pointed out that Iraqi agriculture sector can provide billions of dollars in the state revenues and it can decrease the required amount size from Iraqi hard cash reserves.

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