Expert in economics Ahmed Abdul Rabbo confirmed that the price of the dollar against the Iraqi dinar will significantly rise in the coming days, and that ending transactions in the Chinese yuan will have a significant impact on the Iraqi economy today, Saturday.
In a statement to, Abdul Rabbo noted that “limiting Iraq’s transactions in the US dollar strengthens America economically and increases its hegemony over Iraq.” “Stopping transactions in the Chinese yuan by America through imposing sanctions on the banks dealing with it is a blatant interference in the Iraqi economy and cannot be ignored,” he added.
He went on to say that “Imposing sanctions and stopping transactions in the Chinese yuan is a political matter more than an economic one” and urged the government to “intervene in this matter” because “the Iraqi market is full of Chinese goods and such a decision will raise their prices for the common citizen.”
As the Iraqi authorities seek to provide other foreign currencies for local dealings in addition to the US dollar, economic expert Nabil Al-Marsoumi had previously stated that Iraq intends to rely on the Chinese yuan for trade exchange with China in addition to the European euro, the Emirati dirham, and the Jordanian dinar.
