The head of Diyala’s Chamber of Commerce, Muhammad Al-Tamimi, predicted that the dollar will fall below 150,000 dinars by the end of 2023.
In an interview, Al-Tamimi revealed that the dollar’s value in the parallel market decreased by 8 to 10% in three weeks. It currently stands at 152,000 dinars per 100 dollars, after reaching 167,000 dinars per 100 dollars 3 months ago.
“He said that the dollar will decrease to less than 150 dinars for every 100 dollars by the end of 2023. This is due to the lack of pressure on the black market and the increasing use of the dinar in local transactions. Additionally, the Central Bank’s electronic transaction procedures and state institutions will also contribute to this impact.”
He warned that there would be a slow but noticeable decline in the prices of basic materials that would have a more substantial impact on the Iraqi markets in the first quarter of 2024.
The exchange rate of the US dollar in Iraq is decreasing, leading to a reduction in financial burdens for millions of citizens.
