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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

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    In numbers.. Revealing the daily volume of dollar sales in the parallel market in Iraq - Urgent

    Rocky
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    In numbers.. Revealing the daily volume of dollar sales in the parallel market in Iraq - Urgent Empty In numbers.. Revealing the daily volume of dollar sales in the parallel market in Iraq - Urgent

    Post by Rocky Wed 10 Jul 2024, 4:40 am

    In numbers.. Revealing the daily volume of dollar sales in the parallel market in Iraq - Urgent

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    Baghdad Today - Baghdad 
    Financial expert Mustafa Akram Hantoush revealed, today, Tuesday (July 9, 2024), the volume of daily dollar sales in the parallel market through the stock exchange in Baghdad and exchange offices.
    Hantoush said in an interview with Baghdad Today, "Estimates indicate that the volume of daily trade in the local Iraqi market ranges between 50 and 75 million dollars per day, and this number goes to several requirements, the largest of which is trade with Iran and Syria, which is not covered by the Central Bank of Iraq and is a profitable trade for many traders."
    He explained that "there are requirements in the market, such as travelers to Iran, Syria and Russia. The traveler to these countries does not receive dollars from the Central Bank, and for this reason he resorts to the parallel market, in addition to other requirements, which are foreign workers who have invaded the Iraqi market with the presence of more than a million workers. These people receive annual transfers of money amounting to approximately 5 billion dollars, and they are paid through the parallel market, in addition to the citizen saving in dollars, and this demand is not small, in addition to other requirements such as car trade and others."
    The financial expert added, "The volume of sales of the stock exchange and exchanges in Baghdad on a daily basis ranges between 50 and 75 million dollars, and this is a large and important number, and there must be solutions to reduce these amounts."
    On Thursday (July 4, 2024), the Parliamentary Finance Committee considered the rise in the dollar exchange rate in the parallel markets to be “temporary,” expecting it to decline over the next two days.
    Committee member Moeen Al-Kadhimi told Baghdad Today that "the rise in the dollar exchange rate in the local market is very slight compared to previous increases," considering that "this rise is dependent on the amount of demand for the currency in the parallel market and is a temporary matter."
    Al-Kadhimi said, "The Central Bank of Iraq sells the dollar normally and on a daily basis, and there are no problems with the issue of providing the dollar," considering that "any rise in the dollar will be met with steps and procedures to reduce it, and we expect that during the next two days the exchange rate will witness a gradual decline."
    Since Eid al-Adha, the dollar exchange rate has gradually increased from 145,800 thousand dinars per 100 dollars, to more than 150 thousand dinars in exchange offices and markets.
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