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Iraqi chambers of commerce make proposals to end the "daily massacre" of the dollar in the market
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2022-12-22 01:22
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Shafaq News/ The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, presented, on Thursday, proposals to stop the rise in the exchange rate of the dollar against the local currency, considering at the same time that the volume of currency auction sales to the Central Bank is not commensurate with the amount of goods traded in the market.
Al-Zuhairi said in a statement today that the volume of currency auction sales is not commensurate with the quantity of goods traded in the market, and the estimate of the actual need of the market does not exceed half of the amount that is sold daily in the currency auction.
He added, "The recommendations were listened to, and we found the brave man who can stop this massacre through some simple decisions, including not paying the tax on dollar sales, which means that the merchant has the right to transfer the purchase invoice through Iraqi banks and in Iraqi dinars if he wishes."
Al-Zuhairi explained, "This decision will be implemented at the beginning of next year, and in the coming days, the Iraqi currency will be available in the banks," adding, "There are decisions that we hope will be taken so that we can end this daily massacre of the dollar."
The head of the Federation of Iraqi Chambers of Commerce suggested "diversifying the foreign currency commodity within the central bank and not remaining a monopoly of the dollar only, the strict monitoring by the Federal Bank on the movement of the dollar from Iraqi banks to intermediary banks."
He concluded by saying that by applying these proposals and decisions, the sale of the currency auction would decrease from 200 million and more to 66 million.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2022-12-22 01:22
Share
Font
Shafaq News/ The head of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi, presented, on Thursday, proposals to stop the rise in the exchange rate of the dollar against the local currency, considering at the same time that the volume of currency auction sales to the Central Bank is not commensurate with the amount of goods traded in the market.
Al-Zuhairi said in a statement today that the volume of currency auction sales is not commensurate with the quantity of goods traded in the market, and the estimate of the actual need of the market does not exceed half of the amount that is sold daily in the currency auction.
He added, "The recommendations were listened to, and we found the brave man who can stop this massacre through some simple decisions, including not paying the tax on dollar sales, which means that the merchant has the right to transfer the purchase invoice through Iraqi banks and in Iraqi dinars if he wishes."
Al-Zuhairi explained, "This decision will be implemented at the beginning of next year, and in the coming days, the Iraqi currency will be available in the banks," adding, "There are decisions that we hope will be taken so that we can end this daily massacre of the dollar."
The head of the Federation of Iraqi Chambers of Commerce suggested "diversifying the foreign currency commodity within the central bank and not remaining a monopoly of the dollar only, the strict monitoring by the Federal Bank on the movement of the dollar from Iraqi banks to intermediary banks."
He concluded by saying that by applying these proposals and decisions, the sale of the currency auction would decrease from 200 million and more to 66 million.
[You must be registered and logged in to see this link.]
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