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Henig » December 29th, 2022
An oil expert: The collapse of the local currency is unlikely for this reason
Baghdad / NINA / – The expert in the field of oil and energy, Muhammad Hawrami, ruled out the collapse of the local currency, stressing: “Iraq’s oil imports … are a strength of the local currency.”
Hawrami said in a statement to the National Iraqi News Agency (NINA): “The collapse of the local currency is unlikely…because Iraq is one of the major oil-exporting countries…and its monthly revenues of hard currency amount to approximately $8 billion or more, according to the current price of oil.”
He expected a rise in energy prices in light of the global energy crisis and the increase in demand for oil, and we are at the beginning of a difficult European-American winter … in light of the near depletion of Western oil reserves and a politicized energy policy par excellence, as he put it.
About the rise of the dollar from time to time, he explained: “The rise in the dollar is temporary, caused by political pressure on the one hand and the New Year’s holiday.. calling on the government and the central bank to follow a wise and fair economic policy to support salary earners and citizens with limited income. LINK
Source: Dinar Recaps
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