Analyzing the Fluctuations of the Iraqi Dinar Exchange Rate in Light of Covid-19
Keywords:
Corona pandemic, exchange rate, exchange rate gapAbstract
Due to its high sensitivity to investment, business environment, and economic conditions, the exchange rate is one of the most significant instruments for monetary authorities in all countries of the globe in general, and developing countries in particular. As a result, the monetary authority chooses the exchange system that best fits the facts and data of the political economy. This research analyzed an exchange rate using exchange data from 1/1/2019 to 1/1/ 2022. The problem lies in the excessive sensitivity to exchange rate changes in economic and social crises due to the deterioration of the fundamental macroeconomic environment. The objective of this study is to determine the amount of the gap between the official and parallel exchange rates during the Corona pandemic. The amount of exported currency, the net surplus or deficit in the public budget, the growth rate relative to the domestic product, and the degree of economic openness in Iraq were shown to be the most critical variables that have a clear and direct influence on exchange rate movements.
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References
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