AN ECONOMIST WARNS THE IRAQIS: DO NOT SELL THE DOLLAR, YOU WILL “LOSE”
Baghdad / National News Center: Today, legal expert Abdul Rahman Al-Mashhadani warned Iraqis against selling the dollar these days, stressing that the exchange rate “will not change.”
Al-Mashhadani said in a television interview, followed by the “National News Center”, that “Mr. Al-Sadr did not request a change in the exchange rate of the dollar or a reduction in the exchange rate against the dinar, but rather a request to reorganize the foreign exchange market.”
Al-Mashhadani added, “The Minister of Finance forced the Central Bank to implement the decision to raise the dollar exchange rate,” explaining that the timing of the exchange rate was inappropriate and the size of the increase was illogical despite the Corona pandemic. He should have borrowed from the Central Bank.
Regarding citizens selling dollars during these days, he said, “The citizen who sells dollars will lose because the exchange rate has not changed.”
He stressed, “There are mafias that profit from the citizens’ rush to sell the dollar,” noting that “a number of banks earned (45) dollars within (20) days.”