Iraqi financial expert: recent dollar rise is temporary, driven by global markets

Shafaq News/ The recent rise in the US dollar against the Iraqi dinar is temporary, and economic factors, rather than political ones, ultimately determine currency trends. According to Mahmoud Daghir, a financial expert and former director at the Central Bank of Iraq.

In an interview with Shafaq News Agency, Daghir explained that the dollar's fluctuations in local markets are influenced by global trends, as the dollar remains the same whether in Iraqi markets or global exchanges. However, “The key concern is how the local currency reacts to these global shifts within Iraq.”

"The current changes in the dollar’s value are temporary and will likely return to normal once stability is restored," Daghir stated. "It is the economic situation that determines the dollar's value against other currencies, not political factors."

Iraq has recently witnessed a surge in the US dollar against the dinar, causing concern among local businesses and consumers. The exchange rate has fluctuated significantly, surpassing sometimes 160,000 per $100.