“Hidden Forces of Speculation”… Economist Reveals New Reason for Dollar’s Rise

An economist has a fresh theory for the increase in the value of the dollar relative to the dinar.

“In regards to the ascent in the dollar swapping scale and its excess at its ongoing rates in the equal market, it is the aftereffect of powers “in the background,” or what is known as the “covered up state,” of examiners and merchants, as they are the ones attempting to keep costs running on like this.” Bassem Jamil Antoine said.

As per his assessment, public authority measures “frail notwithstanding these examiners and cash merchants, as they cannot restrict the ascent in return rates as a result of them and their ownership of influence, strength and cash, and they are the ones who decide costs.”

“The exchange rates will remain the same as long as these hidden parties exploit the country,” Jamil said.

It is significant that the dollar conversion scale in the surrounding commercial sectors (equal) is recorded at roughly 1, 490 dinars, a great difference from the authority cost sold by the National Bank of Iraq, which is 1,320 dinars.

“The Central Bank sells more than 250 million dollars daily at the official price 1,320 dinars,” the governor of Iraq’s central bank, Ali Al-Aq said on August 7, stressing that there is no intention to review the dollar exchange rates.

“The view that the dollar cost has risen or fell is definitely not a right marker,” he said.