Chambers of Commerce identify three reasons behind the rise in the exchange rate of the dollar in the Iraqi markets[You must be registered and logged in to see this link.] |Today, 12:4[You must be registered and logged in to see this image.]
Baghdad today - Diyala
Today, Thursday, the head of the Chambers of Commerce in Diyala, Muhammad Al-Tamimi, identified 3 reasons behind the high exchange rate of the dollar in the local markets.
Al-Tamimi said to (Baghdad Today), "The return of the compass to the high exchange rate of the dollar in the parallel market in Diyala and the rest of the provinces is due to 3 important reasons."
He added, "The most prominent reasons are smuggling and the presence of influential parties within the government institution whose interests intersect with any attempts to correct the course of the national economy," stressing that "the deep state has effective tools in thwarting any attempts towards any decisions that harm its interests."
He explained that "there are influential forces benefiting from the parallel market for the dollar, because it generates very huge sums of money on it, and the government's efforts to end smuggling and control the rhythm of the currency market mean cutting large sums of money."
Al-Tamimi pointed out that "controlling the national economy and dismantling the tools affecting it is not an easy task, and it is a battle similar to the battle with terrorism," stressing that "there are parties that do not want to continue the compass of economic reform in Iraq, or at least keep it within certain limits away from the interests of adults."
The exchange rates of the dollar against the Iraqi dinar are witnessing a significant increase in light of a battle waged by Prime Minister Muhammad Shia al-Sudani to reduce prices locally.
A war waged by the Prime Minister, to control exchange rates, sometimes with procedures from the Central Bank of Iraq and others related to exchange offices and private banks.
Here we find that despite the strict measures imposed by the executive authority, private banks and exchange offices found doors to manipulate prices away from the sight of the regulatory authorities.
The Association of Iraqi Banks is present and absent from the Iraqi arena. Despite the manipulation of the dollar exchange rate, it did not move a finger and take concrete steps on the ground as a supervisory authority that follows up on the work of banks.
The citizen, in turn, is first and foremost affected by the manipulation of the dollar exchange rate. The livelihood is now at the mercy of the merchants who raised prices under the pretext of the dollar.