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Three reasons for the central bank's decline in sales: this is what's going to happen next
2021-01-07
Shafq News/ Mp Jamal Cougar, a member of the parliamentary finance committee, on Thursday identified three reasons for the decline in the central bank's sales.
"The previous sales of the central bank through its daily auction were not real, they covered more than the market needs," Cougar told Shafq News, adding that "the purpose of the merchants and banks who were buying the dollar through this auction was profit and that these profits were reduced, which affected the bank's sales."
"The proliferation of speculation in the markets was a second reason for the low sales of the central bank, as the savings of the citizens have not yet fully ended," he said, adding that "the end and return of savings to their previous places, people will accept the new government rate."
"The real trader or investor who needs the dollar will now turn to the market to get the dollar because it is cheaper than the central bank and therefore it is another reason for the low sales of the central bank," cougar said.
It is noteworthy that the central bank's sales declined after the central bank raised the exchange rate of the dollar to record sales of 8 million dollars in the last auction session held by the central bank after it reached more than 200 million dollars."
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2021-01-07
Shafq News/ Mp Jamal Cougar, a member of the parliamentary finance committee, on Thursday identified three reasons for the decline in the central bank's sales.
"The previous sales of the central bank through its daily auction were not real, they covered more than the market needs," Cougar told Shafq News, adding that "the purpose of the merchants and banks who were buying the dollar through this auction was profit and that these profits were reduced, which affected the bank's sales."
"The proliferation of speculation in the markets was a second reason for the low sales of the central bank, as the savings of the citizens have not yet fully ended," he said, adding that "the end and return of savings to their previous places, people will accept the new government rate."
"The real trader or investor who needs the dollar will now turn to the market to get the dollar because it is cheaper than the central bank and therefore it is another reason for the low sales of the central bank," cougar said.
It is noteworthy that the central bank's sales declined after the central bank raised the exchange rate of the dollar to record sales of 8 million dollars in the last auction session held by the central bank after it reached more than 200 million dollars."
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