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Disclosure of the reasons for the continued rise of the dollar in the parallel market in Iraq
economy |Today, 17:10 |
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Baghdad today - Baghdad
Today, Friday, the researcher in economic affairs, Nabil Jabbar Al-Tamimi, revealed the reasons for the continued high exchange rate of the dollar against the Iraqi dinar in the parallel market, indicating that imports from Iran at $20 million per day are funded through the market.
Al-Tamimi told "Baghdad Today" that "the indicators of the Iraqi Central Bank's daily sales figures are good, especially with regard to remittances and credits," adding, "But (black remittances) still cause a rise in dollar prices in the markets."
Al-Tamimi added, "Some merchants who own small businesses and remittances are still executing their transfers outside the electronic platform and refuse to enter through it," noting that "these merchants do their business through black transfers through the parallel market, with little dollar cash in the market and limited dealings with it." That is why there is a rise in the exchange rate in the local market, especially with most companies refraining from selling dollars, as they are trying to provide dollars to owners of black remittances instead of selling them to citizens.
And Al-Tamimi indicated that "there are (20) million dollars, which are Iraq's daily imports from Iran, as this amount does not come out through the electronic platform or anything else, and this amount is secured through black transfers, which is a reason for the survival of the high price of the dollar in the Iraqi local market."
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economy |Today, 17:10 |
+A
-A
Baghdad today - Baghdad
Today, Friday, the researcher in economic affairs, Nabil Jabbar Al-Tamimi, revealed the reasons for the continued high exchange rate of the dollar against the Iraqi dinar in the parallel market, indicating that imports from Iran at $20 million per day are funded through the market.
Al-Tamimi told "Baghdad Today" that "the indicators of the Iraqi Central Bank's daily sales figures are good, especially with regard to remittances and credits," adding, "But (black remittances) still cause a rise in dollar prices in the markets."
Al-Tamimi added, "Some merchants who own small businesses and remittances are still executing their transfers outside the electronic platform and refuse to enter through it," noting that "these merchants do their business through black transfers through the parallel market, with little dollar cash in the market and limited dealings with it." That is why there is a rise in the exchange rate in the local market, especially with most companies refraining from selling dollars, as they are trying to provide dollars to owners of black remittances instead of selling them to citizens.
And Al-Tamimi indicated that "there are (20) million dollars, which are Iraq's daily imports from Iran, as this amount does not come out through the electronic platform or anything else, and this amount is secured through black transfers, which is a reason for the survival of the high price of the dollar in the Iraqi local market."
[You must be registered and logged in to see this link.]
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