Dollar Exchange Rate Analysis: Recent Trends in Iraqi Economy
Economist Mohamed Al-Hassani provided insights on the recent fluctuations in the exchange rate of the US dollar against the Iraqi dinar, noting a decrease observed over the past days; however, he emphasized that the existing gap remains significant.
In his analysis, Al-Hassani indicated that, “The gradual decline in the dollar prices against the dinar suggests a potential return to previous levels.” He characterized the recent retreat in the exchange rate as limited in scale.
Al-Hassani further commented on the behavior of traders, who are allegedly attempting to capitalize on the situation by disseminating unfounded rumors to create opportunities for profit. According to him, these deceptive practices contribute to market volatility.
Additionally, he highlighted that “the discrepancy between the central bank’s exchange rate and that of the dollar in the local markets—commonly referred to as the parallel market—remains considerable, exceeding 17 to 18 thousand dinars.”
As for the specifics, the exchange rate in Iraqi local markets experienced a decline last week, falling from 150,700 dinars to 149,300 dinars.
| Exchange Rate (in Iraqi Dinars) | Previous Week | Current Week |
|---|---|---|
| Dollar Exchange Rate | 150,700 | 149,300 |
Overall, while some downward movement in the dollar’s value against the dinar is observable, the fundamental issues within the currency markets necessitate ongoing scrutiny from both economists and market participants alike.
