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A hand has been placed on the “reason” for the rise in dollar prices, and an expert warns a group against “burning with fire”
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2023-09-12 03:53
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Shafaq News/ Economist and former general director at the Central Bank, Mahmoud Dagher, revealed on Tuesday that the rise in the dollar is due to the leakage of currency to punished entities.
Dagher said in an interview with Shafaq News Agency, “There is no dollar crisis, but rather a crisis of merchant dollars in cash that leaks to cover trade with punished entities, and it represents only less than 10 percent of the central bank’s sales. The dollar is stable in financing imports to Iraq at 1,320 dinars to one dollar.” ".
He added, "The cash problem does not represent a large volume, and therefore the demand for it is a demand for the purpose of continuing imports from punished entities. This is a mistake committed by these merchants, so let them bear the price increase."
He pointed out that "the poor Iraqi citizen has nothing to do with the dollar, as inflation is low, and the person who has a salary has nothing to do with the dollar. When he wants to travel, for example, he has a card that he puts the required amounts on, and he goes out and takes dollars for purposes of living and shopping, so he does not need cash dollars."
He continued, "Those who need cash dollars are those who deal with sanctioned entities or speculators," noting that "these will suffer the fire of this rise until they abandon this type of trade or find another outlet until they return to the right path."
He stated that "the central bank is not responsible for what happens to the cash dollar, but rather speculators and importers from the sanctioned entities, who represent a small amount of the bank's total sales."
The dollar is witnessing a gradual rise against the Iraqi dinar during these days, recording 155,000 dinars against 100 dollars on Tuesday morning on the Al-Kifah Stock Exchange.
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
2023-09-12 03:53
Share
Font
Shafaq News/ Economist and former general director at the Central Bank, Mahmoud Dagher, revealed on Tuesday that the rise in the dollar is due to the leakage of currency to punished entities.
Dagher said in an interview with Shafaq News Agency, “There is no dollar crisis, but rather a crisis of merchant dollars in cash that leaks to cover trade with punished entities, and it represents only less than 10 percent of the central bank’s sales. The dollar is stable in financing imports to Iraq at 1,320 dinars to one dollar.” ".
He added, "The cash problem does not represent a large volume, and therefore the demand for it is a demand for the purpose of continuing imports from punished entities. This is a mistake committed by these merchants, so let them bear the price increase."
He pointed out that "the poor Iraqi citizen has nothing to do with the dollar, as inflation is low, and the person who has a salary has nothing to do with the dollar. When he wants to travel, for example, he has a card that he puts the required amounts on, and he goes out and takes dollars for purposes of living and shopping, so he does not need cash dollars."
He continued, "Those who need cash dollars are those who deal with sanctioned entities or speculators," noting that "these will suffer the fire of this rise until they abandon this type of trade or find another outlet until they return to the right path."
He stated that "the central bank is not responsible for what happens to the cash dollar, but rather speculators and importers from the sanctioned entities, who represent a small amount of the bank's total sales."
The dollar is witnessing a gradual rise against the Iraqi dinar during these days, recording 155,000 dinars against 100 dollars on Tuesday morning on the Al-Kifah Stock Exchange.
[You must be registered and logged in to see this link.]
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