The dollar is reeling from a fatal blow and there are fears of a collapse of the dinar

The dollar is reeling from a fatal blow and there are fears of a collapse of the dinar

⁠link⁠ to My FX Buddies Blog post https://www.myfxbuddies.com/2024/05/the-dollar-is-reeling-from-fatal-blow.html

The fluctuation in dollar prices and the rise in gold prices has significantly affected the contraction of the commercial market in terms of imports and purchases of goods, amid confusion in opinions between the return of the rise in green and its decline to the official price set by the state of 1,320 dinars per dollar.

The price of the dollar in the parallel market is currently 1,460 dinars, whether higher or lower than this rate.  The Central Bank of Iraq's cancellation of the currency {auction} window at the end of 2024 and Washington's sanctions on Iraqi banks have opened a door of doubts that will end up placing the dollar in the face of speculation, which will make it vulnerable to demand after the recovery of the Iraqi dinar with government orders that limited dealing in the dinar to restrict the movement of the dollar.