Established in 2006 as a Community of Reality

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


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Speculation is "innocent"... Goods that require $30 million a day from the parallel market raise exc

    Rocky
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    • Post n°1

    Speculation is "innocent"... Goods that require $30 million a day from the parallel market raise exc Empty Speculation is "innocent"... Goods that require $30 million a day from the parallel market raise exc

    Post by Rocky Tue 07 Nov 2023, 4:40 am

    Speculation is "innocent"... Goods that require $30 million a day from the parallel market raise exchange rates

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    Baghdad today - Baghdad
    Today, Monday (November 6, 2023), economic expert and academic Nabil Al-Marsoumi considered that the rise in dollar exchange rates has nothing to do with “speculation,” but rather is linked to the smuggling of the dollar to finance “hidden” imports.
    Al-Marsoumi said in a clarification followed by “Baghdad Today” that “what is happening in Iraq currently is not speculative operations for the black dollar, but rather the smuggling of cash dollars, that is, travelers’ dollars, to finance the import of some goods not included in the platform, such as gold, drugs, alcoholic beverages, and cigarettes, on the one hand, and to finance imports from Iran.” American punishment.
    He explained, "Therefore, it is not strange that the exchange rate of the scarce dollar rose to 1,670 dinars or more. The issue is very normal as long as smuggling persists and the borders are wide open."
    According to economic estimates, Iraq imports $10 billion annually from Iran, as well as cigarettes worth a billion dollars annually, as well as alcoholic beverages worth nearly a quarter of a billion dollars annually. While a tax is imposed on cigarettes and alcohol between 100 and 200%, merchants of these goods resort to not introducing these goods. Materials from official outlets for fear of taxes, and therefore they are unable to finance their trade through the central bank dollar at the official rate, which prompts them to buy dollars from the parallel market, to finance this trade, which requires more than 11 billion dollars annually, which requires purchasing more than 30 million dollars daily. From the parallel market to provide these goods. 
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