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Source reveals the reasons for the decline in the US dollar exchange rates against the Dinar

Category: Economy

Date: 2021-11-21T12:06:16+0000
Source reveals the reasons for the decline in the US dollar exchange rates against the Dinar

Shafaq News/ A government source attributed the decline in the US dollar exchange rates against the Iraqi Dinar to the central bank sales' continuation and the lack of tourists during the current season.

The source told Shafaq News Agency, "The decline in dollar prices in the stock exchange and local markets is due to the lack of demand on it compared to what is offered in the stock market," noting, "owners of exchange shops try to alter the prices for profit purposes, but they remain limited."

The source, who preferred to remain anonymous, added that the bank's sales of US dollar in the auction contribute to increasing the dollar's supply in the local markets, as well as providing traders with their need for dollars to cover their imports at prices lower than the market.

The source pointed out that the lack of tourism during this time of the year is another reason for the decline in dollar prices, noting that the security situation and rumors have a significant impact on dollar prices.

It is noteworthy that the price of the dollar gradually decreased in the Iraqi markets, ad they reached 147,900 dinars for every 100 dollars on the main stock exchange.

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