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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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    With the rise of the dollar.. the rise in food prices and the markets are empty of shoppers

    Rocky
    Rocky
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    With the rise of the dollar.. the rise in food prices and the markets are empty of shoppers Empty With the rise of the dollar.. the rise in food prices and the markets are empty of shoppers

    Post by Rocky Wed 14 Dec 2022, 5:53 am

    With the rise of the dollar.. the rise in food prices and the markets are empty of shoppers



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    2022-12-14 04:30
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    Shafaq News/ The exchange rate of the US dollar against the Iraqi dinar is witnessing a continuous and noticeable increase, which led to disruption of commercial activity in the local markets, and contributed to the rise in food and consumer prices, especially in the wholesale markets in the Jamila commercial area in Baghdad.



    This area, along with the large shurja market, in the Iraqi capital, has become almost devoid of shoppers, which some merchants and economists see as linked to the rise in the exchange rate of the dollar in the parallel (black) markets.
    A wholesaler in a beautiful area, Muhammad Abdel-Hussein, told Shafaq News agency, "The rise in dollar prices has definitely affected the prices of foodstuffs, whether rice, flour or vegetable oils," noting that "these materials are imported in dollars, and therefore their sale is also in dollars.”
    He added that "the trader is not affected by the rise in dollar prices as much as the buyer is from the owners of retail stores and citizens," pointing out that "the only damage that falls on the trader will be in the lack of purchase quantity as a result of this rise and the hesitation of some to buy because they expect prices to drop in the future, which is What makes a beautiful market almost empty of shoppers today.”
    For his part, financial and economic expert Hilal Al-Taan confirmed to Shafaq News agency, "Any rise in dollar exchange rates directly affects the market," noting that "currency and black market traders are present and taking advantage of opportunities in the absence of government control over the markets, and thus this rise It will affect citizens, especially the low-income and poor classes."
    Al-Taan pointed out that "this rise affects the market's activity and its movement, because the citizen will avoid buying because of this rise," stressing that "the best solution to reduce dollar prices is the central bank's tendency to sell dollars directly to citizens through widespread bank branches and at specific prices to reduce the gap." between what the bank sells and what is currently in the market.
    And the exchange rates of the dollar rose on the main stock exchange in Baghdad to more than 152 thousand dinars for every 100 dollars at a time when the central bank sells one dollar for 1460 dinars.
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