Economic proposals to reduce the differences between the official and parallel dollar price, 1 SEPT

 Economic proposals to reduce the differences between the official and parallel dollar price

8-31-2023

Economic proposals to reduce the differences between the official and parallel dollar priceInformation / Baghdad…

The researcher in economic affairs, Muhammad Al-Saadi, explained how to reduce the differences between the official dollar exchange rate and the one sold in the parallel market through government procedures and decisions.

Al-Saadi told Al-Maalouma, that “there is a commission that exchange companies receive when buying and selling dollars, and it is assumed that there will be a commitment to the specified commission according to the Central Bank’s policies.”

He added, “The competent authorities can reduce the demand for dollars by reducing money transfers and pushing for imports through documentary credits, so that the process of obtaining dollars at the official price takes place smoothly, away from any complications that push the merchant to resort to the black market.”

And he indicated that “there are many options available to the government in order to reduce the withdrawal of the dollar from the markets, especially the parallel one, impose control and monitor any cases of manipulation or speculation, and support the dinar in the local markets, as well as providing more facilities for merchants to push them towards registering on the electronic platform in order to obtain dollars in order to import their goods.

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