The economist, Safwan Qusai, called for opening a window to receive the farmers’ deposits in Iraqi dinars, in exchange for linking them to the dollar in the parallel market, to hedge against any fluctuation in the value of the dinar later.
Qusai said in a statement to the National Iraqi News Agency (NINA): “It is clear that the fluctuation of the value of the Iraqi dinar in the parallel market has led to a kind of anxiety among those who hold the dinar, especially the farmers, some of whom fear the weakness or fluctuation of the value of the dinar later.”
He called for opening a window to receive the farmers’ deposits in Iraqi dinars in exchange for linking them to the dollar in the parallel market, so that any fluctuation in the value of the dinar later could compensate the owner of the dinar by the amount of decline.
He pointed out, “With this procedure, we create a kind of reassurance for those who hold the Iraqi dinar, because the value of the dinar is preserved and is not exposed to any threat as a result of these transactions,” stressing: “The Iraqi banks opening a hedge window with the value of the Iraqi dinar will contribute to increasing reassurance and keeping the dinar away from converting to other currencies, and there can also be a review of interest for these deposits in order to encourage the farmer to deal and keep the dinar during this stage.
Source: National Iraqi News Agency