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Private banks and exchange companies seize the dollar.” Economist: The Central Bank is “completely powerless.”
Economy |10-10-2023, 23:55 |
Baghdad today - Baghdad
Today, Tuesday (October 10, 2023), economic expert Ahmed Al-Tamimi commented on the significant rise in the dollar exchange rates in the “black” parallel market, which reached more than 160 thousand dinars for 100 dollars.
Al-Tamimi said in an interview with "Baghdad Today",
"The significant rise in the dollar exchange rates in the parallel (black) market confirms the inability of the Central Bank of Iraq to control the exchange rate, as
it has not taken actual decisions to confront this crisis that has been going on for many months." He added,
"Black transfers continue on a daily basis in all Iraqi cities, and
they are the basis of the crisis, and the
Central Bank is completely unable to find any solutions to these transfers despite its cooperation with the American side.
Therefore, we expect that the dollar will continue to rise during the next few days."
The Central Bank took several measures and decisions to prevent the circulation of the dollar in local markets above the official price (1320), but to no avail,
despite the fact that the only source of the dollar is the Central Bank and
despite the fact that those who take the dollar, namely private banks and exchange companies, are known to it,
but they are unable to control them and oblige them not to leak them. The dollar through fake transfers, according to observers.
Earlier, independent MP Hadi Al-Salami confirmed,
“The current failure in the US dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now.
The government of Muhammad Shiaa Al-Sudani has pledged to solve the crisis by establishing mechanisms that prevent the smuggling of hard currency, but it
"You did not succeed in this file." Al-Salami added in a press interview,
“Reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large amounts of dollars, and
we do not know where it goes,” noting that
“the problem is big in Iraq, and
we are facing huge challenges that may lead to... The current system has cracked, especially since the United States of America has often warned against smuggling the dollar to neighboring countries.”
https://baghdadtoday.news/232895-المصارف-الاهلية-وشركات-الصرافة-تستحوذ-على-الدولار.-اقتصادي-البنك-المركزي- عاجز-تماماً.html
Economy |10-10-2023, 23:55 |
Baghdad today - Baghdad
Today, Tuesday (October 10, 2023), economic expert Ahmed Al-Tamimi commented on the significant rise in the dollar exchange rates in the “black” parallel market, which reached more than 160 thousand dinars for 100 dollars.
Al-Tamimi said in an interview with "Baghdad Today",
"The significant rise in the dollar exchange rates in the parallel (black) market confirms the inability of the Central Bank of Iraq to control the exchange rate, as
it has not taken actual decisions to confront this crisis that has been going on for many months." He added,
"Black transfers continue on a daily basis in all Iraqi cities, and
they are the basis of the crisis, and the
Central Bank is completely unable to find any solutions to these transfers despite its cooperation with the American side.
Therefore, we expect that the dollar will continue to rise during the next few days."
The Central Bank took several measures and decisions to prevent the circulation of the dollar in local markets above the official price (1320), but to no avail,
despite the fact that the only source of the dollar is the Central Bank and
despite the fact that those who take the dollar, namely private banks and exchange companies, are known to it,
but they are unable to control them and oblige them not to leak them. The dollar through fake transfers, according to observers.
Earlier, independent MP Hadi Al-Salami confirmed,
“The current failure in the US dollar issue is borne by all the Iraqi governments that have ruled the country since 2003 until now.
The government of Muhammad Shiaa Al-Sudani has pledged to solve the crisis by establishing mechanisms that prevent the smuggling of hard currency, but it
"You did not succeed in this file." Al-Salami added in a press interview,
“Reforming the banking system and the dollar crisis requires controlling the currency auction, which is still selling large amounts of dollars, and
we do not know where it goes,” noting that
“the problem is big in Iraq, and
we are facing huge challenges that may lead to... The current system has cracked, especially since the United States of America has often warned against smuggling the dollar to neighboring countries.”
https://baghdadtoday.news/232895-المصارف-الاهلية-وشركات-الصرافة-تستحوذ-على-الدولار.-اقتصادي-البنك-المركزي- عاجز-تماماً.html
