An economist explains how to control the currency sale auction

An economist explains how to control the currency sale auction

The Information/Baghdad… The economic expert, Abdul Salam Hassan, explained that the currency sale auction can be controlled through the government’s move towards equalizing the value of the dinar with the dollar or making it close to the dinar, pointing to the difficulty of stopping this auction, especially with the presence of dominant parties on the scene.

Hassan told Al-Maalouma, “The currency auction cannot be stopped, and there is no law preventing its work, as it is supported by the World Bank, despite corruption and the parties’ control over it to achieve personal benefits.”

He added that “most countries work with currency auctions or the so-called economic colonialism, and countries take it for financial investment and a window to extract the currency, but the work of this auction in Iraq cannot be legalized or stopped under the pretext of continuing import, and this matter needs more currency.”

And he indicated that “the increase in the amounts of currency sale came as a result of the increase in the exchange rate of the dollar against the dinar, as it achieves greater benefit through the currency sale auction, and the government can control this matter and reduce the amounts sold in the auction by making the value of the dollar close to the dinar and thus the two values ​​are equal or may The difference is very simple.”

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