Iraqi Dinar 123 News:– The experts suggested government of Iraq to trade in the local currency instead of US dollars or in any other currency of the world. The adoption of local currency in the commercial transactions will enhance the economy of Iraq. Last year Iraq and India were agreed on the trade with local currencies. It was the best way to reduce the monopoly of US dollar in the international market. But due to some undefined reasons the agreement could not be performed.

The local products often destabilize with the rise and fall of the price of dollar in the international market. Especially the oil prices that increase or decrease with the direct relationship of US dollar in the developing countries. The fluctuation in the price of the dollar even impacts the eatables in the developing countries like Iraq. Therefore experts in the world think that if nations start trading with their home currencies instead of dollar or any other currency of the world as exchange mechanism, they will find their economy is developing with good pace. The developing nations like Iraq should not accept the monopoly of any other country on the international trade and need to do that is beneficial for their country and their economy.