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Two reasons behind the rise in the dollar exchange rates in Iraq.. What are the expectations about its fate?
Economy/Localities | Today, 16:42 |
Baghdad today - Baghdad
Today, Tuesday (July 23, 2024), economic expert Alaa Al-Fahd revealed that
there are two reasons behind the return of the dollar exchange rates against the Iraqi dinar in the local market, while
he expected it to gradually decline. Al-Fahd told "Baghdad Today",
"The rise in the price of the dollar in the parallel market came due to the
Central Bank of Iraq implementing a new mechanism, selling dollars to travelers, in addition to the presence of a crisis in
checking remittances in the Chinese yuan, and
this matter was quickly resolved by the Central Bank of Iraq."". Al-Fahd stated,
"We expect that there will be a gradual decline in the dollar exchange rate in the coming days.
This rise is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits." He added,
"The Central Bank of Iraq has discussions and procedures with the US Federal Bank in order to control the exchange rate in the parallel market, and
this rise is due to the rise in illicit trade, but the
Central Bank of Iraq emphasized control over the dollar file and
there are positive discussions with the American side."".
Since Eid al-Adha, the exchange rate of the dollar has risen to more than 152 thousand dinars in the parallel market and money exchangers, after hovering around 145 thousand dinars for every 100 dollars.
Prices returned to decline last week, with the dollar now hovering around 149 thousand dinars for every 100 dollars.
The Central Bank imposed a mechanism that prevents the delivery of dollars to travelers except at airports, which increased the demand for dollars in the parallel market after illicit trade was financed through the parallel market via travelers’ dollars.
https://baghdadtoday.news/254073-سببان-وراء-ارتفاع-أسعار-صرف-الدولار-في-العراق.-ما-التوقعات-حول-مصيره؟.html
Economy/Localities | Today, 16:42 |
Baghdad today - Baghdad
Today, Tuesday (July 23, 2024), economic expert Alaa Al-Fahd revealed that
there are two reasons behind the return of the dollar exchange rates against the Iraqi dinar in the local market, while
he expected it to gradually decline. Al-Fahd told "Baghdad Today",
"The rise in the price of the dollar in the parallel market came due to the
Central Bank of Iraq implementing a new mechanism, selling dollars to travelers, in addition to the presence of a crisis in
checking remittances in the Chinese yuan, and
this matter was quickly resolved by the Central Bank of Iraq."". Al-Fahd stated,
"We expect that there will be a gradual decline in the dollar exchange rate in the coming days.
This rise is common with the implementation of any new policy by the Central Bank of Iraq, as speculators try to exploit this in order to increase their profits." He added,
"The Central Bank of Iraq has discussions and procedures with the US Federal Bank in order to control the exchange rate in the parallel market, and
this rise is due to the rise in illicit trade, but the
Central Bank of Iraq emphasized control over the dollar file and
there are positive discussions with the American side."".
Since Eid al-Adha, the exchange rate of the dollar has risen to more than 152 thousand dinars in the parallel market and money exchangers, after hovering around 145 thousand dinars for every 100 dollars.
Prices returned to decline last week, with the dollar now hovering around 149 thousand dinars for every 100 dollars.
The Central Bank imposed a mechanism that prevents the delivery of dollars to travelers except at airports, which increased the demand for dollars in the parallel market after illicit trade was financed through the parallel market via travelers’ dollars.
https://baghdadtoday.news/254073-سببان-وراء-ارتفاع-أسعار-صرف-الدولار-في-العراق.-ما-التوقعات-حول-مصيره؟.html
