An Economic Expert Details The Reasons For The Rise In The Dollar: What Is Happening In Iraq Is Organized Smuggling, 7 NOV

 An Economic Expert Details The Reasons For The Rise In The Dollar: What Is Happening In Iraq Is Organized Smuggling

Posted On2023-11-07 By Sotaliraq   On Tuesday, economic expert Nabil Al-Marsoumi detailed the reasons for the rise in dollar prices, while pointing out that what is happening in Iraq is organized smuggling of the dollar.

Al-Marsoumi stated, “What is happening in Iraq is not speculation in the black dollar in the parallel market, but rather what is happening on the ground is an organized smuggling operation of the traveler’s dollar or the cash dollar for two basic reasons.”

Al-Marsoumi added, “The first reason lies in the fact that some goods imported from abroad that are not included in the electronic platform, including gold, drugs, alcoholic beverages, and cigarettes, some of which have a very large value, that is, no less than a quarter of a billion dollars annually, on the one hand.”

He added, “On the other hand, there is a strong demand for the dollar in the parallel market because of the need for it in order to settle commercial initiatives or Iraq’s imports of Iranian goods, which amount to 10 billion dollars annually due to the sanctions imposed on it, which prevent the settlement of commercial transactions with bank transfers.”

He pointed out that there is “a large segment of travelers who intend to travel to countries sanctioned by America. These people do not obtain the dollar at the official price, but rather from the parallel market, which has led to a widening of the gap between the parallel and official prices in the Iraqi market.” LINK