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Expert: The exchange rate will inevitably decrease after applying the new central bank procedures
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Economy News _ Baghdad
Views 125
Added 01/31/2023 - 11:12 AM
Updated 01/31/2023 - 1:59 PM
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Economy News _ Baghdad
Economic expert Alaa Al-Fahd confirmed that the exchange rate will return to its official rate in the market after the Central Bank applies its new measures to control the exchange rate of the dollar against the dinar.
Al-Fahd said in a televised interview, followed by "Al-Iqtisad News", that what we are going through today is a regulatory process for selling the dollar by the Central Bank in cooperation with the US Federal Bank and setting new procedures to monitor the movement of money, indicating that the Central Bank is not alone today responsible for controlling the exchange rate in Markets, but the responsibility rests with all ministries and governmental institutions, headed by the Ministry of Commerce, by providing food commodities to the citizen and selling them at the official price to prevent speculation by traders in the (black) market.
He added that the Central Bank facilitated the process of small merchants obtaining dollars at the official rate through multiple outlets for the purpose of importing food commodities as well as travel and treatment for citizens.
And between Al-Fahd, the citizen must understand that the Central Bank did not raise the dollar exchange rate, but after applying the new procedures for foreign transfers, some merchants speculated on the exchange rates and raised the price of foodstuffs in the market.
Views 125
Added 01/31/2023 - 11:12 AM
Updated 01/31/2023 - 1:59 PM
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