Exchange companies are back operating and demand will decrease – an expert explains the decision to sell the dollar at the market price, 24 NOV

 Exchange companies are back operating and demand will decrease – an expert explains the decision to sell the dollar at the market price

On Thursday, Economist Manar Al-Obaidi stated that the recent decision by the central bank to allow banks and exchange companies to sell the dollar at market price, excluding their share of the currency window, will decrease demand in the parallel market.

Al-Obaidi, in a statement to the 964 network:

The decision will assist exchange companies in resuming their operations.

Only the dollar purchased from the Central Bank will be sold for 1,320 dinars, while the dollar purchased from travelers or other sources can be sold at the market price.

The decision will help save the dollar, as travelers often return with hard currency, and may decrease demand in the parallel market.

Exchange companies owning a share in the dollar window can differentiate between the dollar received from the Central Bank and the dollar coming from other parties by submitting relevant data that proves the sale of this share at the official price.

One can also implement formal measures to monitor the implementation of the decision. I’ll ensure there are no spelling, grammar, or punctuation errors.