Home
Dollar traps” are approaching the end... Parliament reveals those involved in the fluctuations of the parallel market
Economy/Politics |Today, 14:02 |
Baghdad today - Baghdad
Today, Wednesday (January 3, 2024), the Parliamentary Economics Committee revealed those involved in the fluctuation of the parallel market in Iraq, while indicating that the “dollar traps” are nearing their end.
Committee member Representative Yasser Al-Husseini told “Baghdad Today” that
“we are closely following the issue of fluctuations in the parallel market in Iraq, especially after the move to the electronic platform prepared by the Central Bank to regulate dollar liquidity and prevent smuggling,
but on the other hand, there are those whose reconciliation with any organization was attacked because He loses his ability to smuggle and manipulate, which prompts him to try to disrupt the markets by various means.” He added,
"Despite the fluctuation in prices, the coming days will bring greater reassurance for merchants and all dealers in the financial market in terms of the stability of the exchange rate at good levels, especially with the central bank's oversight procedures, which we hope will increase in their aspects."
Al-Husseini pointed out that what he called dollar traps - in reference to the attempt of some to manipulate exchange rates in the parallel market - are almost over, pointing out that
“there are corrupt people who live off market chaos in addition to the trade in contraband, including drugs, which also constitutes a competitor in the parallel market.” Stressing that
"the Central Bank's measures will combat the most important liquidity threads of these people." He continued,
"The stability of the dollar exchange rate will lead to a decrease in prices in the markets, and
this needs some time, indicating that
the government's entry into the file of securing materials in the markets will lead to a greater wave of decline in the coming period."
Since the announcement of raising the value of the Iraqi dinar against the dollar by the Central Bank, local markets have witnessed trading at a rate other than the official rate of the dollar, with a difference that sometimes reached 30 points, which necessitated the government and the Central Bank to intervene with measures to reduce this phenomenon,
but to no avail so far, as... The dollar exchange rate remained high to more than 150 thousand dinars for every 100 dollars in the markets and exchange offices of Baghdad and the provinces.
https://baghdadtoday.news/239245-أفخاخ-الدولار-تقترب-من-النهاية.-البرلمان-يكشف-المتورطين-بتذبذب-السوق-الموازي.html
Economy/Politics |Today, 14:02 |
Baghdad today - Baghdad
Today, Wednesday (January 3, 2024), the Parliamentary Economics Committee revealed those involved in the fluctuation of the parallel market in Iraq, while indicating that the “dollar traps” are nearing their end.
Committee member Representative Yasser Al-Husseini told “Baghdad Today” that
“we are closely following the issue of fluctuations in the parallel market in Iraq, especially after the move to the electronic platform prepared by the Central Bank to regulate dollar liquidity and prevent smuggling,
but on the other hand, there are those whose reconciliation with any organization was attacked because He loses his ability to smuggle and manipulate, which prompts him to try to disrupt the markets by various means.” He added,
"Despite the fluctuation in prices, the coming days will bring greater reassurance for merchants and all dealers in the financial market in terms of the stability of the exchange rate at good levels, especially with the central bank's oversight procedures, which we hope will increase in their aspects."
Al-Husseini pointed out that what he called dollar traps - in reference to the attempt of some to manipulate exchange rates in the parallel market - are almost over, pointing out that
“there are corrupt people who live off market chaos in addition to the trade in contraband, including drugs, which also constitutes a competitor in the parallel market.” Stressing that
"the Central Bank's measures will combat the most important liquidity threads of these people." He continued,
"The stability of the dollar exchange rate will lead to a decrease in prices in the markets, and
this needs some time, indicating that
the government's entry into the file of securing materials in the markets will lead to a greater wave of decline in the coming period."
Since the announcement of raising the value of the Iraqi dinar against the dollar by the Central Bank, local markets have witnessed trading at a rate other than the official rate of the dollar, with a difference that sometimes reached 30 points, which necessitated the government and the Central Bank to intervene with measures to reduce this phenomenon,
but to no avail so far, as... The dollar exchange rate remained high to more than 150 thousand dinars for every 100 dollars in the markets and exchange offices of Baghdad and the provinces.
https://baghdadtoday.news/239245-أفخاخ-الدولار-تقترب-من-النهاية.-البرلمان-يكشف-المتورطين-بتذبذب-السوق-الموازي.html
