Expert warns of dollar crisis in Iraq

Economic expert Ziad Al-Hashimi warned about the continued escalation of the US dollar exchange rate against the Iraqi dinar, due to increasing demand for foreign currency amidst declining oil revenues and external remittances. He pointed out that rising transportation and customs costs have contributed to an increase in dinar liquidity in the market, creating pressure on the exchange rate. He explained that reliance on discounting treasury remittances in recent months has helped inject more dinars into the market without a corresponding supply of dollars, which could keep the exchange rate below what he describes as the "crisis rate" in the future. This situation is compounded by the Central Bank's limited tools to maintain balance.

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