Parliamentary Finance Reveals The Reasons For The “Fluctuation” Of Dollar Prices At The End Of The Year, 1 JAN

 Parliamentary Finance Reveals The Reasons For The “Fluctuation” Of Dollar Prices At The End Of The Year

Economy |Baghdad today – Baghdad   Today, Sunday (December 31, 2023), member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, revealed the reasons for the recent fluctuation in the exchange rates of the dollar against the Iraqi dinar in local markets.

Al-Kadhimi said in a statement exclusively to “Baghdad Today” that “the exchange rates of the dollar against the Iraqi dinar on the black market have their reasons, including speculators,” noting that “there are unreal prices raised by stock exchange owners on social media for the purpose of benefiting.”

The member of the Finance Committee pointed out that “part of the dollar’s decline is the small withdrawal by traders coinciding with the end of the year 2023.”

He added, "The Central Bank of Iraq provides 150-200 million dollars daily at the official exchange rate of 1,320 Iraqi dinars."

Today, Sunday (December 31, 2023), the exchange rates of the dollar against the dinar recorded a slight increase in the local markets in the capital, Baghdad .

The "Baghdad Today" correspondent said, "Selling prices in money exchange shops in the local markets in the capital, Baghdad, amounted to 153,000 dinars for every 100 dollars ."

He added, "The purchase price amounted to 151,000 dinars per 100 dollars."

For more than a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system “SWIFT , ” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets .

The exchange rate in the parallel markets is still recording a significant increase compared to the official rate, which amounts to 1,320 dinars per dollar.  LINK