Iraqi Central Bank’s Currency Auction Suspension Influences Dollar Prices
Economist Mohamed Al-Husni recently highlighted how the Iraqi Central Bank’s decision to halt the auction for hard currency sales has contributed to rising dollar prices in local markets.
In a discussion about the situation, Al-Husni noted that the Central Bank has not published the currency auction data on its website for the past two days. This lapse has spurred a significant increase in demand for the dollar within local markets.
Al-Husni explained that the combination of heightened demand and limited supply has led to a resurgence in dollar prices. He also pointed out that market speculation among currency traders has had a role in this dynamics.
The value of the dollar against the Iraqi dinar has risen once more in local trading, reaching over 149,000 dinars for 100 dollars, following a recent dip to 146,000 dinars for the same amount.
This pause in the Central Bank’s auction publication underscores ongoing challenges in managing currency supply and demand, as the market responds to shifts in policy transparency and economic conditions.
