The Dollar Deepens The Wounds And Hits The Economy. Smuggling To Jordan, The Emirates, And Iraq Pays The Price, 9 NOV

 The Dollar Deepens The Wounds And Hits The Economy. Smuggling To Jordan, The Emirates, And Iraq Pays The Price

Information/Baghdad..   Iraq continues to pay the trade bill of merchants and smugglers to Jordan, Turkey, and the Emirates, reaching record numbers, exceeding the reasonable price, while demands are mounting to end the control of Jordan and its banks over the Iraqi currency auction in the Central Bank of Iraq.   Representative Youssef Al-Kalabi said in a post on the “X” platform, “The Iraqi judiciary is investigating the director general responsible for transfers and credits at the Central Bank on suspicions of corruption and causing manipulation of dollar prices and other serious issues.”

He added, "This person enabled the National Bank, known as (the Jordan Bank), to acquire two billion dollars a month."

Al-Halbousi Ignores Calls For Reform

In addition, independent MP Hadi Al-Salami accused the Parliament Presidency of ignoring the representatives’ calls to host the Prime Minister and the Governor of the Central Bank to discuss the dollar crisis.

Al-Salami said in an interview with the Maalouma Agency, “The Presidency of Parliament did not deal with the issue of the dollar exchange rate,” pointing out that “there is continuous follow-up by members of the House of Representatives regarding the real and parallel exchange rates.”

He added, "The dollar crisis is still casting a shadow over the economic scene in light of warnings about the decline in the value of the Iraqi dinar."

He pointed out that "the dollar is continuing to gradually increase and it is possible that it will exceed 170 thousand dinars in the absence of new deliberate steps to control this matter."

Al-Salami pointed out, “The Presidency of Parliament ignored our calls to host the Prime Minister and the Governor of the Central Bank to discuss the dollar crisis.”

Independent MP Basem Ngheimesh Al-Gharibawi had confirmed that the Presidency of Parliament had not responded to demands to hold an investment session to discuss the dollar crisis and its instability in the markets.

Shy Steps

In a shy step, the Central Bank announced the resumption of the sale of gold bullion and coins via an electronic platform in order to reduce demand for the dollar.

A statement from the Central Bank, received by the Maalouma Agency, stated that it “decided to sell gold bullion and coins via an electronic platform, starting tomorrow, Wednesday.”

He pointed out, "Governmental and private banks can apply to buy gold bullion and coins via (an electronic platform designated for this purpose)," indicating that "their sale will be in accordance with the instructions and controls issued by the Central Bank of Iraq."

 The Dollar Is Beyond Reasonable

Dollar prices rose significantly in Baghdad and in Erbil, the capital of the Kurdistan Region, with the closure.

The Maaloma Agency correspondent said that dollar prices rose with the closure of the Al-Kifah and Al-Harithiya stock exchanges, recording 166,800 dinars against 100 dollars.    LINK