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[size=46]Parliamentary Finance: The Central Bank of Iraq has begun adopting 5 mechanisms to contain the rise in the parallel market[/size]
Economy
11:17 - 2023-10-22
[You must be registered and logged in to see this image.]11:17 - 2023-10-22
Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed on Sunday that the Central Bank of Iraq had begun adopting 5 mechanisms to contain the rise in the parallel market.
Al-Karawi said in a press interview, “The difference between the dollar exchange rate specified by the Central Bank and the parallel market reaches 20%, which is a high percentage that reflects a serious state of concern because it is unstable.”
He added, "The possibility of the dollar rising is great with the demand for the parallel market in order to finance deals and travel trips for thousands of citizens," noting that "the last meeting with the management of the Central Bank revealed negative indicators and cases in some aspects in terms of securing liquidity for the dollar in order to meet all requests." Purchase,” pointing out that “the bank has begun to adopt 5 mechanisms to contain the rise in the parallel market, the most prominent of which is reducing dollarization in transactions according to specific contexts.”
He pointed out that "reducing the dollar exchange rate is very important, especially since any rise leads to great pressure on the markets and pushes prices higher, with speculators exploiting any opportunity to profit."
The dollar exchange market in Iraq is witnessing an unstable situation in light of its breaking the barrier of 160 thousand dinars per $100. Ended 25 F
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