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Iraqis make profits from money transfers to Turkey
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2023-03-25 03:10
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Shafaq News/ A number of citizens stood in line in front of Al-Taif Islamic Bank for transfer to seize some profits from the process of converting the Iraqi dinar into dollars.
One of the citizens standing in the queue said, in an interview with Shafaq News agency, "Al-Taif Islamic Bank is currently selling the dollar at 7,400 dollars for 10,400,000 Iraqi dinars, which means that the exchange rate will be around 1,400 dinars against one dollar."
He added, "The process of selling the dollar by the bank requires a transfer to Turkey to be received from there by the beneficiary," noting that "this transfer comes to help merchants and importers," adding, at the same time, "there are those who benefit from this process from the price difference from what exists." in the parallel market.
The central bank set a price of 1,300 Iraqi dinars to buy the dollar from the Ministry of Finance, 1,310 dinars to sell it to banks through the “electronic platform,” and 1,320 dinars to sell it to the final beneficiary.
And the Central Bank of Iraq issued three reform packages, which it said came with the aim of addressing the rise in dollar exchange rates.
Despite the procedures of the Central Bank and its approval of a specific exchange rate, the exchange rates of the dollar still range in the markets between 155 - about 160 thousand dinars for the category of 100 US dollars.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-03-25 03:10
Share
Font
Shafaq News/ A number of citizens stood in line in front of Al-Taif Islamic Bank for transfer to seize some profits from the process of converting the Iraqi dinar into dollars.
One of the citizens standing in the queue said, in an interview with Shafaq News agency, "Al-Taif Islamic Bank is currently selling the dollar at 7,400 dollars for 10,400,000 Iraqi dinars, which means that the exchange rate will be around 1,400 dinars against one dollar."
He added, "The process of selling the dollar by the bank requires a transfer to Turkey to be received from there by the beneficiary," noting that "this transfer comes to help merchants and importers," adding, at the same time, "there are those who benefit from this process from the price difference from what exists." in the parallel market.
The central bank set a price of 1,300 Iraqi dinars to buy the dollar from the Ministry of Finance, 1,310 dinars to sell it to banks through the “electronic platform,” and 1,320 dinars to sell it to the final beneficiary.
And the Central Bank of Iraq issued three reform packages, which it said came with the aim of addressing the rise in dollar exchange rates.
Despite the procedures of the Central Bank and its approval of a specific exchange rate, the exchange rates of the dollar still range in the markets between 155 - about 160 thousand dinars for the category of 100 US dollars.
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