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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    An economist accuses the Association of Banks of being behind the high dollar exchange rate

    Rocky
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    • Post n°1

    An economist accuses the Association of Banks of being behind the high dollar exchange rate Empty An economist accuses the Association of Banks of being behind the high dollar exchange rate

    Post by Rocky Wed 07 Jun 2023, 4:45 am

    An economist accuses the Association of Banks of being behind the high dollar exchange rate

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    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.
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