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The value of the dinar in the parallel market increased by 5% since the beginning of the month
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Economy News - Baghdad
Since the beginning of April, the value of the Iraqi dinar against the dollar has increased by about 5% in the parallel market.
The dollar was sold on the first of April at 150,750 dinars, while today it has fallen to 143,500 dinars, as its value fell by 7,250 dinars. But the dollar is sold by the Central Bank at a price of 1320 dinars to the last beneficiary.
The rise in the value of the dinar against the dollar is due to a series of measures taken by the Central Bank, known as the two reform packages that regulated foreign trade by forcing merchants to open bank accounts and deal directly with banks, in addition to coordinating trade with China through the Chinese yuan currency.
The Governor of the Central Bank, Ali Al-Alaq, said earlier this month that the central bank is on alert to restore the exchange rate of the dollar to its normal position, because what happened is that the Federal Bank audited financial transactions in advance while it was in the past after conducting the financial transfer process from Iraq.
He pointed out that now the external transfer operations have doubled, which creates a state of balance between supply and demand, and that the new system seemed to work faster than the previous one.
Views 96
Added 04/23/2023 - 2:47 PM
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The currency of the dollar and the Iraqi dinar
The currency of the dollar and the Iraqi dinar
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
Since the beginning of April, the value of the Iraqi dinar against the dollar has increased by about 5% in the parallel market.
The dollar was sold on the first of April at 150,750 dinars, while today it has fallen to 143,500 dinars, as its value fell by 7,250 dinars. But the dollar is sold by the Central Bank at a price of 1320 dinars to the last beneficiary.
The rise in the value of the dinar against the dollar is due to a series of measures taken by the Central Bank, known as the two reform packages that regulated foreign trade by forcing merchants to open bank accounts and deal directly with banks, in addition to coordinating trade with China through the Chinese yuan currency.
The Governor of the Central Bank, Ali Al-Alaq, said earlier this month that the central bank is on alert to restore the exchange rate of the dollar to its normal position, because what happened is that the Federal Bank audited financial transactions in advance while it was in the past after conducting the financial transfer process from Iraq.
He pointed out that now the external transfer operations have doubled, which creates a state of balance between supply and demand, and that the new system seemed to work faster than the previous one.
Views 96
Added 04/23/2023 - 2:47 PM
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