Daash Mosul speculate dollar
prices to cope with the liquidity crunch
The coalition led by the United States said it would attack the financial infrastructure of the organization as well as attack fighters and commanders. The air strikes have reduced the ability of the organization to the oil extraction, refining and transportation as one of the main sources of revenue despite a decline in world prices.
The coalition says it destroyed since October at least "ten points to collect the cash" is estimated to contain hundreds of millions of dollars.
He says US military officials said the frequency of reports of reduced regulation Daash fighters wages by as much as half is proof that the coalition is putting pressure on the organization.
It was cut average wages from $ 400 to $ 200 per month. Colonel US Army Steve Warren, a spokesman for the coalition that the wages of foreign fighters, which had ranged between 600 and 800 dollars a month also reduced but it was unclear the size of this reduction.
However it seems that the hard-liners who control controlled almost entirely on the local economy, and adapt to these setbacks in Mosul, the development of new sources of income.
traders said the currency in Mosul, told Reuters, that the organization gets the hard currency through the sale of commodities produced in factories controlled by the local distributors in dollars but pays wages in dinars to thousands of fighters and public officials.
he said traders that the organization won what up to 20 percent under the preferential currency imposed last month, which lifted the dollar when exchanged for the categories smaller than the dinar rate.
An employee exchange office in Mosul, "Daash selling (products) for traders in dollars but pay salaries, small groups of the dinar." The official price set by the Iraqi government valued at $ 100 are currently about 118 thousand dinars.
The owner of the exchange office in Mosul the same amount equivalent to 127,500 dinars when you buy banknotes category of 25 thousand dinars, the largest circulation category. The price rises to 155 thousand dinars when you buy banknotes category 250 dinars, which traded lower classes. Preferably organize Daash biggest categories for easy transport.
The three other traders in the currency of these details. Everyone spoke to Reuters on condition of anonymity for fear of retribution regulation. And prevented security restrictions in the areas controlled by the regulation without verification from independent sources told Reuters that.
It was not possible to determine how much of the income of Daash achieve control over the currency market.It was also unclear whether these practices were in place outside Mosul - the largest organization under the control of the cities - whether in Iraq or in Syria.
Traders said trading is very limited outside of this system at more competitive prices because the organization threatened to confiscate funds violates the rules. And if there were such transactions are conducted in complete secrecy. A trader told Reuters: "will not risk one."
Manages the organization, which does not had any links to traditional financial institutions because of the international sanctions economical cash transactions and controls the majority of the means of production, including factories that produce cement, textiles and flour.
The officials described the US organization that richest group terrorist in the world. The organization was looted of nearly half a billion dollars from banks in the territories seized by the year 2014 as well as income from oil smuggling operations and the millions he received from taxes and ransoms.
In January, the coalition said the air strikes against oil installations of the organization reduced its revenue by about 30 percent since October, when he was defense Department officials estimate that gets about 47 million dollars a month.
wants Iraqi authorities restore Mosul this year from the hands of the organization, which represents the biggest threat to the security of the country since the US invasion of Iraq in 2003. this represents a part of the US strategy to defeat the organization.
Warren said the air strikes against the financial infrastructure to Daash have had severe effects. He told reporters last week "may not Tvkdk (the strikes) awareness day, but begin to Adaavk over time and make you unable to work the way you want."
Witnesses said that the latest goal of the central bank building in Mosul, which was destroyed during an air raid this month . A picture published by the news agency depths that support the organization and around the collapsed building and other buildings destroyed.