An economist accuses the Association of Banks of being behind the high dollar exchange rate[You must be registered and logged in to see this image.]
Baghdad today - Baghdad
On Tuesday, the economist Sarhnak Hussain accused the Association of Private Banks of standing behind the rise in the exchange rates of the dollar in the parallel (black) markets.
Hussein told (Baghdad Today) that "the process of buying dollars with cards by merchants and giving these to private banks is behind the rise of the dollar exchange again."
He added, "It is clear that the private banks do not want the exchange rate to drop, as they are the biggest beneficiaries of the advantage granted to them by the Central Bank, as they buy the dollar at the official rate, and it is sold to the citizen by a very large difference," holding the "association of private banks responsible."
It is noteworthy that the exchange rate of the dollar in the parallel (black) markets has risen again, as the markets recorded this morning, Tuesday, 1490 dinars per dollar, although the Central Bank of Iraq sells it for 1320 dinars.
With the government's efforts to control prices in the parallel markets, the commercial markets witnessed a decline in the exchange rate in the past weeks, but it rose again, which indicates an economic problem that is still present in the country.
As a result, the government resorted to a plan to impose dealings in Iraqi dinars in markets and retail stores in various governorates.