Chambers of Commerce expect the parallel dollar to disappear at the end of next May[You must be registered and logged in to see this link.] |Today, 15:[You must be registered and logged in to see this image.]
Baghdad today - Diyala
The head of the Chamber of Commerce in Diyala, Muhammad Mulla Jawad al-Tamimi, confirmed today, Sunday, that the parallel market for selling dollars will disappear at the end of next May.
Jawad told (Baghdad Today) that "the parallel market for selling dollars in Diyala and the rest of the provinces has lost 10% of the exchange value of the dollar in the past weeks, and it currently ranges between 140-141 thousand dinars per 100%," stressing that "the decline will be more in May." Next".
He added that "the market no longer has any importance in determining the price, especially since there are several variables that pushed this direction, the most prominent of which is the decline in the dollarization of the markets at rates ranging from 20-25% and because of the resort of merchants and companies to relying on the dinar in the payment of debts, dues and internal trade exchanges, in addition to the decrease in smuggling." Companies resort to the electronic platform.
Jawad pointed out that "the disappearance of the parallel market for selling the dollar is a positive case in order to end the file of speculation that was behind a series of crises that struck the Iraqi markets, but the temporary disappearance came due to the presence of networks trying to keep the market because it represents large profits in currency trade and speculation that occurs from time to time for several reasons." ".
Earlier, the Deputy Governor of the Central Bank, Ammar Hamad Khalaf, confirmed that the difference between the official and parallel exchange rates will gradually disappear, indicating its stability at 132 thousand dinars per 100 dollars.
Khalaf said in a press statement, followed by (Baghdad Today), that "the central bank took several measures to reduce the price of the dollar, especially through the three packages that it launched at the beginning of this year, which were sufficient to address the high exchange rate in the parallel market."
He added, "The bank met with the Federation of Iraqi Chambers of Commerce and a number of merchants to discuss the challenges and put in place mechanisms to address them."
He expected the issuance of new packages to address all the challenges facing merchants to facilitate their obtaining foreign currencies.
The Deputy Governor of the Central Bank attributed the gradual decline in the price of the dollar in the past two days to the increase in the volume of sales of the Central Bank.
He explained, "The bank has liberated restrictions on sales, and the bank can sell any amount of dollars as long as there is a real demand for dollars," noting that "the difference between the official and parallel exchange rates will gradually disappear."
He stated that there is a great response by banks to the Central Bank's instructions regarding the official exchange rate.
Despite the Iraqi government's adoption of the recent central bank's decision to adopt a new official exchange rate from 145 thousand to 130 thousand dinars for every $100, the margin of difference between the official and parallel exchange rates remains the same, as it ranges between 15 to 25 thousand dinars.