More than 800 million dinars per day for the “neighborhood boys” in exchange for buying dollars at a

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[size=52]More than 800 million dinars per day for the “neighborhood boys” in exchange for buying dollars at any price and smuggling them[/size]

[size=45]The "framework" fears a street coup with al-Sadr's gestures in the Gulf Cup![/size]
[size=45] Merchants buy goods at the central bank price and sell at black market prices[/size]
[size=45] Seven thousand exchange offices, most of which smuggle hard currency[/size]
[size=45] Baghdad / Tamim Al-Hassan[/size]
[size=45]More than 200 small buyers of hard currency (dollars), believed to be linked to parties, daily collect dollars and transport them across the border.[/size]
[size=45]This process, due to the difference in the official exchange rate for the dollar from its price on the black market, saves more than 800 million dinars per day for smugglers.[/size]
[size=45]Yesterday, the security forces arrested a number of speculators in the Baghdad markets, at a time when Prime Minister Muhammad al-Sudani warned those trying to "exploit the crisis."[/size]
[size=45]And the collapse of the dinar continues against the dollar, as its price recorded yesterday in the daily unofficial trading of 1650 dinars against one dollar.[/size]
[size=45]Informed sources told (Al-Mada) that «there are between 200 to 300 renters from neighboring countries who buy dollars daily at any price and in any year of issuance (old or new)».[/size]
[size=45]And the sources, who asked not to be identified, added, "These small buyers are fronts for large buyers, and they may be influential parties or factions because of their ability to cross the border at least twice a day."[/size]
[size=45]The sources estimate that "the daily purchase of dollars ranges between 2.5 million dollars to 5 million dollars," noting that "because of the difference in the exchange rate between the official and the black market, they make 170 million Iraqi dinars per million dollars."[/size]
[size=45]A week ago, the Central Bank of Iraq announced the return of the exchange rate of the dollar to 1470 dinars during the current month, while referring to the tendency to open windows for selling currency in the provinces soon.[/size]
[size=45]According to the sources, there are "7,000 banking companies, most of which carry out purchases of dollars and sell them to intermediaries."[/size]
[size=45]It is believed that the high exchange rate is the result of smuggling operations estimated at between 100 to 250 million dollars per week, most of which go to Iran and other neighboring countries.[/size]
[size=45]Nabil Al-Marsoumi, a professor of economics at the University of Basra, says that the only solution currently available to stop the deterioration of the exchange rate of the dinar against the dollar is for the government to travel to Washington to discuss the possibility of “postponing work on the electronic platform for a period ranging from 6 months to a year.”[/size]
[size=45]Recently, the US Federal Bank began establishing an electronic platform within the Iraqi Bank to monitor currency smuggling and compare import invoices.[/size]
[size=45]According to the sources, the dollars that Iraq gets from the sale of oil carry serial numbers (serial numbers), as the “US Federal Reserve” found that these currencies are transferred to other countries within 3 to 4 days of receiving them.[/size]
[size=45]Returning to Al-Marsoumi, he says that the electronic platform “bans 80% or more of daily dollar transfers to Iraq, which previously totaled more than $250 million on some days, for reasons including insufficient information related to the destination of these funds or because of errors.” other ». There is a "single solution" to the dollar crisis and to stop the bleeding of the dinar.[/size]
[size=45]He added, "Therefore, Iraqi banks need some time to adapt to the requirements and rules of compliance with the supervision imposed by the US Federal Bank."[/size]
[size=45]Apart from that, other solutions appear to be patchwork, according to the economics professor's description, "including selling cash to travelers and even the idea of ​​distributing part of the employees' salaries in dollars, which in any case does not guarantee that it will not be smuggled."[/size]
[size=45]The dollar crisis causes a headache within the coordinating framework, which is feared to be exploited by the Sadrist movement, which recently sent messages through the recently ended Gulf Cup championship, and accepted it by resuming unified prayer.[/size]
[size=45]"We have taken a number of bold decisions to support and stabilize the Iraqi dinar, and we warn those who try to exploit the crisis and play on people's needs," Prime Minister Muhammad al-Sudani said yesterday, commenting on the dollar crisis.[/size]
[size=45]At the official memorial ceremony on the occasion of the martyrdom of Muhammad Baqir al-Hakim (he was assassinated by a car bomb in Najaf in 2003), he pointed out that “the exchange rate did not rise as a result of a government decision, but rather because there were those who took advantage of the temporary conditions and turmoil in the markets that were not yet familiar with dealing with the new banking mechanisms. Which will preserve the funds, which is an important step on the road to economic reform.[/size]
[size=45]And electronic platforms close to the Sadrist movement had criticized during the past weeks the “framework” policy in the dollar crisis and an attempt to pin the charge of the dinar’s decline on the previous government of Mustafa Al-Kazemi.[/size]
[size=45]According to a member of the coordination framework who spoke to Al-Mada, "the current may use this crisis to stir up the street."[/size]
[size=45]And the member of the Shiite alliance, who spoke on condition of anonymity, said that the Sadrist movement: "is trying to give messages during Friday prayers and what happened in the Gulf Championship to say that it is still close to politics."[/size]
[size=45]A few days ago, a Sadrist leader told (Al-Mada) that the leader of the movement, Muqtada al-Sadr, was "in a period of patience" with the Shiite alliance and might intervene at any time.[/size]
[size=45]Al-Sadr had stressed, in a telephone conversation with members of the football team, after they won the Gulf Cup, that the "Gulf is Arab" in what appeared to be a response to the objection of Iran and Shiite parties not to call it the "Persian Gulf".[/size]
[size=45]Hassan Al-Athrai, head of the Sadrist bloc that resigned last summer, previously said that they (meaning the movement) will take the cup again, just as Iraq took the Gulf Cup.[/size]
[size=45]And the current platforms had, during the last period, re-tweets (deleted after that) and a video clip of the Sudanese deputy (before he became prime minister) warning of the high price of the dollar.[/size]
[size=45]In what appears to be an attempt to contain the crisis, arrests began yesterday, described as "limited", for some speculators at the exchange rate.[/size]
[size=45]Rahim al-Darraji, a former member of the Parliamentary Integrity Committee, said in an interview with (Al-Mada) that "this is the task of economic security, and the offices that sell at a price higher than the official price must be closed."[/size]
[size=45]Al-Darraji said, "The closures are not enough without punishing merchants who buy dollars at the official rate, and when they buy goods, they sell them on the basis of the black market price."[/size]
[size=45]On the other hand, eyewitnesses reported to (Al-Mada) in the Al-Kifah Stock Exchange to sell dollars in central Baghdad, that an unknown group had fired bullets at the forces that arrested some speculators in the market.[/size]
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