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2022-02-20 06:29
Exchange offices demand the central bank determine its position on the exchange rate: rumors confused the market
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2022-02-20 06:29
Shafaq News/ The owners of exchange offices in Baghdad confirmed today, Sunday, that they have expanded the difference between buying and selling to ten figures, and while they demanded the Central Bank to determine its position on the process of changing the price of the dollar, an economist considered that the fluctuation in the price of the dollar led to a stagnation in the markets.
Muhammad Hussein, the owner of the Fez exchange office, said in an interview with Shafaq News Agency, "What is currently happening with regard to the process of buying and selling the dollar is just jurisprudence, even for the major stock exchanges, and these jurisprudence is driven by rumors that in turn confused the market," noting that "what is happening of dollar sales belong to the citizens. Those who fear that the dollar will fall more, and not the exchange companies, as a result of rumors that indicate a decrease in the dollar.”
He added, "Some companies have stopped and refrained from buying or selling operations, while some other companies are immunizing themselves by setting a difference of 10 digits (tiger) between selling in relation to the stock price and ten digits between buying in relation to stock exchange prices after it was limited to five. numbers".
for his part; The owner of Al-Yaqin exchange office said in an interview with Shafak News Agency; “There is great confusion in the processes of buying and selling the dollar, and this confusion affected the work as a result of the Central Bank selling the dollar to offices through auction at a price of 146000 dinars per 100 dollars, while what is currently available from the price in the markets is 144500 dinars per 100 dollars, which is less Much more than bank rates.
He pointed out that "the market will remain in a state of confusion as a result of the existence of these rumors," calling on "the Central Bank to speak publicly by defining its position on changing the price of the dollar or not, or determining a specific time for changing the price of the dollar."
for his part; The economic expert, Hilal Al-Tahan, said in an interview with Shafaq News Agency, "The calls to reduce the exchange rate led to fluctuation in exchange rates, and therefore there is no buying of the US dollar at the present time, and I expect that there will be more decreases, and those who own dollars are trying to sell the dollar in any way for fear of loss."
Miller added; "The fluctuation will lead to an economic stagnation in the market, and consequently, the buying and selling operations will decrease, not only the dollar, but even residential houses, lands, goods and services," noting that "the citizen is waiting for the matter to be finally resolved by the government through the 2022 budget."
He pointed out that "the increase in the dollar's exchange from 120 to 145 thousand dinars compared to 100 dollars during the 2021 budget and the use of the shock method in dealing with the conditions of the Iraqi economy had a great impact on the rise in prices in the markets, where the exchange rate rose by nearly 25 percent, but the prices of goods Some of them rose to 100 percent and even 150 percent," noting that "this is due to the greed of some merchants and the government's lack of control over the markets, which affected the poor and even middle class of employees."
Miller emphasized; That "the arrival of financial surpluses after the rise in the price of oil globally began, there were calls to reduce the exchange rate of the dollar, which are realistic and correct calls, as this rise cannot continue after most of the people were affected by that, with the improvement of the financial situation and a good economy for Iraq."
It is noteworthy that the exchange rates of the dollar witnessed a decrease with the presence of calls to reduce the prices of the dollar with the improvement and the rise in oil prices, so that the Baghdad Stock Exchange recorded this morning, Sunday, 14500 dinars against the dollar, and the owners of the exchange offices worked hard in selling the dollar and the lack of clarity about the government’s direction to reduce the price of the dollar or not.
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Muhammad Hussein, the owner of the Fez exchange office, said in an interview with Shafaq News Agency, "What is currently happening with regard to the process of buying and selling the dollar is just jurisprudence, even for the major stock exchanges, and these jurisprudence is driven by rumors that in turn confused the market," noting that "what is happening of dollar sales belong to the citizens. Those who fear that the dollar will fall more, and not the exchange companies, as a result of rumors that indicate a decrease in the dollar.”
He added, "Some companies have stopped and refrained from buying or selling operations, while some other companies are immunizing themselves by setting a difference of 10 digits (tiger) between selling in relation to the stock price and ten digits between buying in relation to stock exchange prices after it was limited to five. numbers".
for his part; The owner of Al-Yaqin exchange office said in an interview with Shafak News Agency; “There is great confusion in the processes of buying and selling the dollar, and this confusion affected the work as a result of the Central Bank selling the dollar to offices through auction at a price of 146000 dinars per 100 dollars, while what is currently available from the price in the markets is 144500 dinars per 100 dollars, which is less Much more than bank rates.
He pointed out that "the market will remain in a state of confusion as a result of the existence of these rumors," calling on "the Central Bank to speak publicly by defining its position on changing the price of the dollar or not, or determining a specific time for changing the price of the dollar."
for his part; The economic expert, Hilal Al-Tahan, said in an interview with Shafaq News Agency, "The calls to reduce the exchange rate led to fluctuation in exchange rates, and therefore there is no buying of the US dollar at the present time, and I expect that there will be more decreases, and those who own dollars are trying to sell the dollar in any way for fear of loss."
Miller added; "The fluctuation will lead to an economic stagnation in the market, and consequently, the buying and selling operations will decrease, not only the dollar, but even residential houses, lands, goods and services," noting that "the citizen is waiting for the matter to be finally resolved by the government through the 2022 budget."
He pointed out that "the increase in the dollar's exchange from 120 to 145 thousand dinars compared to 100 dollars during the 2021 budget and the use of the shock method in dealing with the conditions of the Iraqi economy had a great impact on the rise in prices in the markets, where the exchange rate rose by nearly 25 percent, but the prices of goods Some of them rose to 100 percent and even 150 percent," noting that "this is due to the greed of some merchants and the government's lack of control over the markets, which affected the poor and even middle class of employees."
Miller emphasized; That "the arrival of financial surpluses after the rise in the price of oil globally began, there were calls to reduce the exchange rate of the dollar, which are realistic and correct calls, as this rise cannot continue after most of the people were affected by that, with the improvement of the financial situation and a good economy for Iraq."
It is noteworthy that the exchange rates of the dollar witnessed a decrease with the presence of calls to reduce the prices of the dollar with the improvement and the rise in oil prices, so that the Baghdad Stock Exchange recorded this morning, Sunday, 14500 dinars against the dollar, and the owners of the exchange offices worked hard in selling the dollar and the lack of clarity about the government’s direction to reduce the price of the dollar or not.
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