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Demands for adequate allocations for {travelers' dollars} at the airport
Economical 10/24/2023
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Baghdad: Shukran Al-Fatlawi
A number of economic experts have identified a number of factors that will ensure the success of the Central Bank’s recent trend to open money exchangers to sell the dollar directly to travelers at Baghdad Airport, stressing that the most prominent of those factors that would make the experiment successful and contribute to limiting the rise of the green currency is the follow-up of the project. Granting sufficient allocations to meet the increasing demands of travelers.
In a step aimed at reducing the “climb” of foreign currency, whose exchange rate reached 160 thousand dinars per 100 dollars, the Central Bank opened exchange offices at Baghdad Airport, with the aim of facilitating the mechanism for travelers to obtain dollars, but other specialists believe that this step “ "It is temporary" and cannot address the imbalance from its roots, calling for the necessity of taking strict economic decisions that would put an end to what they described as the "runaway" of the dollar.
Despite the positives expected from the Central Bank’s step, especially in reducing the increase in travelers’ requests to buy the dollar from the parallel market, the financial expert, Dr. Amr Hisham, believes during an interview with “Al-Sabah” that “the recent measures taken by the Central Bank of Iraq to open... New outlets for selling the dollar at Baghdad Airport are no longer sufficient to control the rise in the price of the currency, because the shares of banking companies have been reduced, so this will not compensate for the shortage, and this matter is sufficient to not break the psychological barrier and thus the rise of the dollar.” Hisham expressed his fear that speculative operations would continue, and thus a new rise in the dollar would occur, pointing out that opening banks for travelers is an insufficient measure, unless it is monitored continuously and permanently.
On the same level, economic expert Dr. Nabil Al-Marsoumi noted to “Al-Sabah” that the new step of the Central Bank of Iraq could achieve clear success in the event of providing continuous cash liquidity from the dollar to travelers in those ATMs, pointing out that the Central Bank succeeded through this step in eliminating One of the most important problems that the Iraqi traveler suffers from, not to mention putting an end to the smuggling of a large portion of travelers' dollars.
Explaining that "the matter is not only related to location, but rather to the extent of the ability of the central bank and banking companies to provide continuous, uninterrupted liquidity."
The Governor of the Central Bank, Ali Mohsen Al-Alaq, recently opened new outlets for selling dollars at Baghdad Airport.
Al-Alaq stressed, according to a statement, “the speed of completing transactions by government banks and exchange companies that sell dollars to travelers at Baghdad International Airport, as this is limited to a specific time,” stressing that “the step of opening new outlets at the airport will have positive effects, especially since the traveler gets his share.” of the dollar takes a short time.
He pointed out that "the work of exchange companies at the airport will be monitored by the Central Bank and the Civil Aviation Authority, in addition to the open bank branches that operate in providing their services to customers, including selling foreign currency to travelers."
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