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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The secret of the dollar’s ​​rise in Iraq and the central bank’s failure to control… The trade dolla

    Rocky
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    The secret of the dollar’s ​​rise in Iraq and the central bank’s failure to control… The trade dolla Empty The secret of the dollar’s ​​rise in Iraq and the central bank’s failure to control… The trade dolla

    Post by Rocky Wed Jan 11, 2023 7:54 am


    [size=30]The secret of the dollar’s ​​rise in Iraq and the central bank’s failure to control… The trade dollar “runs away” from the official window to avoid taxes

    2023-01-11
    [/size]
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    Yes Iraq: Baghdad

    With the Central Bank of Iraq continuing to put the drug in its true place, the dollar continues to rise in the local markets, amid experts and specialists finding that the rise of the dollar in Iraq has nothing to do with cash sales and the demand for dollars for the purpose of travel, while the Central Bank continues to provide dollars for the purpose of travel, there is really no demand Too much for travel dollars, and the high demand for trade dollars continues to withdraw hard currency from the markets, which causes the dollar to rise amid the central bank's inability to do anything.
    The Central Bank of Iraq was selling an average of 220 million dollars per day in the previous months, to drop recently to an average of 80-100 million dollars per day only, and sometimes much less than that, with a decrease of about 65%.
    As a result, the exchange rates of the dollar in the local markets rose by nearly 10%, so that the Central Bank mobilized its efforts, which did not lead to anything, for one reason, as the bank began pumping money and dollars for travelers whose demand constitutes only a small percentage of the high real demand in the market, resulting from The demand for “trade dollars,” not travel dollars.
    Experts point out that the owners of fictitious imports, as well as the real traders, have begun to buy dollars from the parallel market, no matter how high its price is, and prefer that to buying dollars from the central bank.
    Where real merchants buy the dollar from the parallel market at its high prices, and thus the prices of the goods they import, only for one thing, which is “tax evasion”, where if they buy from the Central Bank, they will pay entry taxes for these goods that they import.
     
    Economic researcher Mortada Al-Azzawi says, “Many merchants deliberately do not buy dollars from the central bank and go to the parallel market to secure their dollar needs, despite the 10% increase in the exchange rate in the parallel market from the official rate.”
    And he adds: “All of this is for the sake of customs evasion by using forged invoices, as these merchants see that buying a more expensive dollar in the parallel market is cheaper for them than buying dollars from the central bank after applying the new mechanism and bearing the customs bill.”
    And he considered that “the situation will not continue, and when the market is devoid of the dollar, these merchants will be forced to return again to the central bank.”
     
    For his part, economic expert Abd al-Rahman al-Mashhadani says, “The high price of the dollar in the parallel market currently is not due to travel, because what the traveler needs per month is only 10 million. Banking in China is outside the (Swift) system, which led to the rise of the dollar, and the government cannot control it.
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