Government advisor explains reasons for high exchange rate in Iraq

Government advisor explains reasons for high exchange rate in Iraq
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The Prime Minister's Advisor for Economic Affairs, Mazhar Muhammad Salih, revealed today, Saturday, the reasons
for the rise in the price of the dollar in local markets.
Saleh said in an interview with "Mil" that "the secondary exchange market in Iraq witnessed price deviations that exceeded the official exchange rate by about 17%," attributing this to "the influence of this market on the geopolitical information prevailing in the region ."

He added, "The parallel market thrives on colored information to generate a trend in which foreign currency exchange rates outperform the official exchange rate, which is an attempt undertaken by speculators to achieve limited profits resulting from exchange rate differences, especially the cash dollar market ."