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An expert "evaluates" the Ministry of Interior's decision to ban commercial shopping in dollars
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Baghdad today - Baghdad
The economic expert, Nabil Jabbar Al-Tamimi, confirmed today, Sunday, that preventing merchants and citizens from dealing in dollars in the local market will work to strengthen the Iraqi dinar.
Al-Tamimi told (Baghdad Today) that "many countries are working to strengthen the national currency by preventing any dealings in foreign currencies, and this matter is in effect in most countries, and this matter will strengthen the Iraqi dinar, as it will be dealt with only in the local market."
And between, "Dealing with the national currency and the dollar has serious economic effects on the strength of the national currency, and may be a reason for the collapse of the value of the national currency, as happened in Lebanon recently, and for this step aims to strengthen the Iraqi dinar in local dealings."
And the Ministry of the Interior, prevented merchants and citizens from dealing in dollars in markets and shops, and restricted this process to dinars, and specified dealing in dollars exclusively in the Central Bank of Iraq and the exchange offices authorized by it.
Despite a previous decision by the Central Bank to adjust the exchange rate of the dollar, stipulating that the purchase price from the Ministry of Finance be 1,300 dinars per dollar and sell it for (1,310) dinars to banks through the electronic platform, then it is sold for (1,320) dinars to the final beneficiary. A large discrepancy with the prices circulating in the local markets, as the selling value reaches 147 thousand dinars and the purchase value reaches 145 thousand and 250 dinars per 100 dollars.
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