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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    An economist reveals the reason for the rise in the price of the dollar in the local markets

    Rocky
    Rocky
    Rocky
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    • Post n°1

    An economist reveals the reason for the rise in the price of the dollar in the local markets Empty An economist reveals the reason for the rise in the price of the dollar in the local markets

    Post by Rocky Fri 03 Mar 2023, 4:31 am

    [size=45][size=41]An economist reveals the reason for the rise in the price of the dollar in the local markets[/size]
     18 hours ago
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    On Thursday, economist Nabil Jabbar Al-Tamimi revealed the reason for the rise in the dollar exchange rate again in the local market, despite government measures and the Central Bank of Iraq to control prices.
    Al-Tamimi said, in a press interview seen by “Takadum”, that “despite the increase in the indicators of the Central Bank of Iraq’s daily sales of dollars, related to remittances and credits, which appear good and growing in a promising way, as they rose from the rate of 30 million dollars per day to 100 million dollars per day, which is It is a matter of optimism, but the problem is still related to small merchants.”
    He explained that “small merchants are still conducting their transfers away from the banking system and away from the (platform) by buying dollars and transferring them through private offices that conduct transfers illegally, which caused an increase in demand for dollars locally and contributed to its rise, in light of the limited supply practiced by the government and the bank.” Central to stop the phenomenon of the state in the local market.
    And he indicated that "preliminary estimates of the volume of trade for small merchants may be in the range of 50-70 million dollars per day, about 20 million dollars of which go to Iran to feed private imports from Iranian merchants."
    Al-Tamimi continued, “These estimates may be outside the platform today, and the large price difference between the official price of 1310 and the parallel price of 1570 may prompt small merchants to adapt their situation faster to conduct their transfers through the platform.”
    And the economist stressed, “Imports from Iran and financial payments to Iranian merchants (up to 20 million dollars per day) remain a permanent problem for reasons related to sanctions on Iran and the inability to pass bank transfers towards it, which requires the Central Bank and the government to deal with it.”
    The price of the dollar in the local market witnessed a noticeable decrease below 1,500 dinars per dollar after the Council of Ministers approved the decision of the Central Bank of Iraq to reduce the official price of the dollar to 1,300 Iraqi dinars, but it rose again to reach today 1570 dinars per dollar.
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