Baghdad The economic expert, Abdul Hassan Al-Shammari, confirmed that there is not concern about the stability of the local currency, with the large reserves of the dollar and gold.
He told the National Iraqi News Agency (NINA) that what happened during the last period in terms of the rise in the dollar against the local currency is due to the lack of supply and the increase in demand for it.
Al-Shammari added that external factors stand behind this rise, including Iraq’s payment of dues to Iran in the national currency, which is around 3-5 trillion dinars.
He explained that these sums were pumped into the Iraqi market in one way or another to buy dollars in light of Iran’s need for foreign currency more than the Iraqi dinar to revitalize its tired economic situation.
Al-Shammari stressed that with these factors in addition to others, there is no fear or concern for the Iraqi dinar in light of the presence of large reserves of dollars and gold, in addition to that the continuous flow of foreign currency from the export of oil in particular.
Source: National Iraqi News Agency