The Value of U.S Dollar to Increase in the Current Situation: Experts

Iraqi Dinar 123 News:– Iraq is currently experiencing most severe political, security and economic crises in the country. Most of the experts and specialists have predicted about the expected rise in the U.S dollar exchange rate against Iraqi dinar currency due to current internal condition in the country. It seems that Iraqi Central Bank is unable to maintain the exchange rate of Iraqi dinar against the U.S dollar. One of the major reasons is the lack of financial revenues and increase in buying and demand of the U.S dollars in the Iraqi domestic market. Experts indicated that a large number of owners & heads of money exchange companies & traders have started converting local currency into the U.S dollars.

Most of the currency investors believe that unrest political and security condition in the country and current financial situation are the major factors increased demand of the U.S dollars in the Iraqi local currency markets. It also generated a big gap between demand & supply of the U.S dollars in the Iraqi domestic markets. The Iraqi Central Bank had sold a large amount of the U.S dollars in its auction sales of foreign currencies, but it was not the sufficient amount to meet the requirement of currency markets. Experts have predicted that this situation would increase the U.S dollar value against Iraqi dinar currency and it would reach up to 1500 Iraqi dinars per U.S dollar in a couple of weeks. They advised that Iraqi Central Bank should take immediate steps in order to maintain Iraqi dinar exchange rate against international currencies, especially against the U.S dollar.

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