Will the exchange rate reach 1600 dinars?

Will the exchange rate reach 1600 dinars?

⁠link⁠ to My FX Buddies Blog https://www.myfxbuddies.com/2024/07/will-exchange-rate-reach-1600-dinars.html

Economic expert, Munar Al-Abidi, confirmed that the dollar exchange rate in the parallel market may reach 1,600 dinars in the coming days after the Central Bank reduced the money supply.

Al-Obaidi said that the parallel exchange rate in the local market changes as a result of supply and demand, noting that it is expected that the value of the dinar will decrease against the dollar in the coming days and reach the 1,600 dinar barrier.

He added that the reduction in the sale of cash dollars in the local market by the Central Bank is the main factor behind the rise in the value of the dollar, and the price will depend on the provision of hard currency