THE UNIVERSITY OF BASRAH ORGANIZES A SCIENTIFIC ECONOMIC SEMINAR ON THE RISE IN THE EXCHANGE RATE OF THE IRAQI DINAR AGAINST THE US DOLLAR

THE UNIVERSITY OF BASRAH ORGANIZES A SCIENTIFIC ECONOMIC SEMINAR ON THE RISE IN THE EXCHANGE RATE OF THE IRAQI DINAR AGAINST THE US DOLLAR:

On Wednesday 4/1/2023 the Department of Economics at the College of Administration and Economics at the University of Basrah organized its scientific economic seminar on the rise in the exchange rate of the Iraqi dinar against the US dollar.
The seminar which was moderated by the Head of the Department of Economics, Prof. Dr. Amjad Sabah, and attended by Prof. Dr. Yusef Ali Abdel-Asadi, Prof. Dr. Adnan Farhan Al-Jourani, and Prof. Dr. Sami Obaid Al-Tamimi, aimed to clarify the way the dollar sale window works by the Central Bank, the objectives of that window, the positive and negative, and the economic effects of devaluing the Iraqi dinar against the US dollar, which causes high levels of inflation to a large extent and the inability to control the parallel market for foreign exchange by the central monetary authorities to avoid speculations in the black market.
The seminar included presenting three axes. The first axis dealt with the currency selling window and the depletion of foreign reserves. The second axis showed the reasons behind the high exchange rate of the dinar against the dollar. The third axis explained the proposed treatments for the stability of the Iraqi dinar exchange rate against the US dollar.
The seminar recommended a set of recommendations that would stabilize the exchange rate of the Iraqi dinar against the US dollar, in a way that works to achieve economic stability, including the central bank monitoring the parallel market, and not allowing dealing in dollars except for officially licensed offices, in addition to entering the central bank directly in the currency sale window to compensate The shortage in the dollar supply, and linking the Iraqi dinar to a basket of currencies (the dollar, the euro, and the Chinese Yuan).