A slight decline in central bank sales

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[size=52]A slight decline in central bank sales[/size]

[size=45]The price of the dollar decreased slightly, yesterday, Tuesday, in the markets of Baghdad and in Erbil, the capital of the Kurdistan region, with the closure.[/size]
[size=45]Dollar prices fell with the closure of the Al-Kifah and Al-Harithiya stock exchanges in Baghdad, to record 146,100 dollars against 100 dollars, while the dollar prices this morning were 146,200 dinars.[/size]
[size=45]The buying and selling prices were stable in exchange shops in the local markets in Baghdad, where the selling price reached 147,000 dinars, while the purchase price reached 145,000 dinars for every 100 dollars.[/size]
[size=45]In Erbil, the dollar recorded a slight decrease, as the selling price on the stock exchange reached 146,400 dinars for every 100 dollars, and the buying price was 146,300 dinars.[/size]
[size=45]The economist, Jabbar Goran, previously explained the factors influencing the determination of the exchange rate of the US dollar against the Iraqi dinar.[/size]
[size=45]Goran said, "Determining the exchange rate in the local markets is related to four determinants, the first of which is citizens' expectations that are usually associated with government decisions (statements by officials), and the second is related to determining the exchange rate in official transactions, especially financial budgets."[/size]
[size=45]He added, “There are also monetary determinants, which are related to the monetary policy of the Central Bank of Iraq, which is represented in the quantities of dollar pumping and the mechanism for distributing the dollar in the markets, and the last of which is the financial policy of the state.”[/size]
[size=45]Goran emphasized that “determining the exchange rate in the federal budget for the current year affected the exchange rate of foreign currency in the market. After it reached approximately (149,000) thousand dinars per ($100), it has now fallen to (146,000) thousand dinars per ($100). )”.[/size]
[size=45]And that “the budget decision alone is not sufficient to control the price of the dollar in the market,” explaining that “the difference exceeds (15) thousand dinars, and this is a big difference that requires the Central Bank of Iraq to take other and additional measures to control the price of the dollar.”[/size]
[size=45]And on the reasons for the high exchange rate from the official price, a spokesman for the Sulaymaniyah Stock Exchange indicated that “currency smuggling operations outside the country, as well as the process of not pumping all the money that some banks buy from the central bank, as well as administrative and financial corruption, are all reasons affecting the instability of the exchange rate.” dollar.”[/size]
[size=45]Goran concluded, saying, "The Central Bank of Iraq now grants approximately (200) financial invoices per week for foreign transfers, after it did not exceed (50) invoices per week, due to the financial audits on the accounts of those invoices."[/size]
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