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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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    Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Ba

    Rocky
    Rocky
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    • Post n°1

    Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Ba Empty Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Ba

    Post by Rocky Thu 25 Apr 2024, 7:32 am

    Economist: Travelers' dollars are leaking into the parallel market...and this is what the Central Bank should do
    • Time: 04/24/2024 20:41:52
       
    • Read: 3,744 times

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    {Economic: Al-Furat News} The economic expert, Safwan Qusay, revealed the leakage of travelers’ dollars to the parallel market.
    A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
    Qusay said {to Al-Furat News} that: “The current policy of the Central Bank of Iraq goes towards auditing the cash dollar, which was marred by many failures in the first periods, especially its leakage through travelers to the irregular market, and this issue needs a new and clear mechanism.”
    He added, "It is assumed that travelers are dealt with through tourism and airline companies, and the travel ticket is not allowed to be canceled unless the traveler returns the amount he purchased from the exchange outlets or banks."
    Qusay stressed, “This measure will restore confidence in the cash dollar and the possibility of facilitating the mission of real tourists and filling the gaps that accompanied the process of establishing the electronic platform for the cash sale of foreign currencies.” 
    He stated that "the Central Bank will not hesitate to provide the dollar to those entitled to it, whether at the level of Hajj or other windows," noting that "the Central Bank's emphasis on procedures for granting citizens the cash dollar ensures that it reaches those who need it."
    Qusay added, “The Central Bank’s official sales during the previous 10 days rose to $270 million per day, which is an indication of the activation of the electronic platform,” adding, “The more we reduce imports and analyze the irregular demand for the dollar, the more stable the dollar’s ​​exchange rate will be.”
    Meanwhile, travelers expressed their surprise at the Central Bank’s decisions to prevent government banks from selling dollars to travelers.
    Travelers said, via {Al-Furat News}: “We are surprised by the Central Bank’s decisions to prevent government banks from selling the dollar to travelers and monopolizing it only with financial transfer and exchange companies.” 
    Travelers called on Parliament and members of the Parliamentary Finance Committee to “intervene and solve the problem and allow government banks to carry out the process of selling the dollar, especially in conjunction with the delegation of pilgrims to the Holy House of God, and they need to buy the dollar at the official price.” 
    Wafaa Al-Fatlawi
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