BROADCASTS.com

This is the article I was reading from 

Economic expert: Two reasons weakened the sale of the dollar in the Central Bank of Iraq - urgent

link

The economic expert, Manar Al-Obeidi, revealed, on Sunday, January 03, 2021, two reasons for the weakening of the sale of dollars in .the central bank, after the bank was selling 200 million dollars a day

Al-Obaidi said in an exclusive interview with (Baghdad Today), "The decrease in demand for the dollar in the Central Bank was the result of two factors. The first is related to the high exchange rate of the dollar compared to the Iraqi dinar, which prompted many " .merchants to refrain from purchasing goods from abroad to make sure of the current phase."

What will happen in the coming days He added that "the second reason is the decrease in the sales price, related to many banks and exchange companies that close their ".accounts and financial currencies at the end of each year for the purpose of the annual inventory or writing annual financial reports

He continued, "The country will witness a natural return to dollar sales in the central bank, but it will not return as it was at the rate of ".200 million dollars a day, but rather it will be limited to 100-115 million dollars a day The central bank’s sales decreased recently after the dollar’s exchange rate changed dramatically. After its daily sales reached $ 200 .million, it fell to less than $ 40 million per day in recent days

The economic expert, Safwan Qusay, commented on Wednesday, December 30, 2020, on the decline in central bank sales after .changing the dollar exchange rate compared to the Iraqi dinar Qusay said in an exclusive interview with (Baghdad Today), "The decline in central bank sales by nearly 70% before raising the dollar exchange rate is natural, given that import operations have greatly decreased due to the concerns of fear and trauma experienced by ".merchants

He added that "merchants and bankers, as well as citizens who own the Iraqi dinar, deliberately acquired the dollar before its price rose in the markets, and they deliberately pumped the dollar into the market after the exchange rate rose, which achieved great profits for ".them

He continued, "These traders are keeping the Iraqi dinar at the present time for fear of buying the dollar and returning its price to what ".it was in the past

See the rest at https://myfxbuddies.blogspot.com/