The US dollar forces the Iraqi dinar to face and stay at a certain value, which stops local markets from moving.
Basem Jamil Antoine, an economic expert, told Euphrates News, “The dollar exchange rate is stable because of a number of factors, such as the fact that economic and commercial activity has stalled. All markets in Baghdad and Iraq are considered weak, and shopping is slow during the month of Muharram.”
He also said, “During the month of Muharram, there is no shopping, no activity, and economic activity in general is almost at a standstill, in addition to being in the hands of the state in general. As a result, there is no active commercial activity or demand for the dollar, since the private sector is the main one who buys it to import goods, and since there is no demand, it stays stable.”
Antoine added, “Also, exchange rates are going up faster than they are going down. This process needs to be looked at again, because traders who bought the dollar don’t sell it at a loss. This is one reason for the stagnation, stagnation, and weak economic activity, along with the high temperatures that play a big role in the low productivity of the individual or citizen.”
The Parliamentary Investment Committee also agreed that changes in the value of the dollar have an effect on investment projects.
For days, the US dollar has been worth between 150,500 and 150,250 dinars when bought and sold in local markets.
