An Economic Expert Expects The Dollar To Rise Before Ramadan
Time: 02/12/2024 16:33:00 Read: 1,118 times {Economic: Al-Furat News} The economic expert, Ali Karim Idhib, expected today, Monday, that the dollar will rise before the holy month of Ramadan.
Idhib said {to Al-Furat News} that: “Despite the government measures and the Central Bank of Iraq to support the national currency, the reality is still different, as the exchange rates in the parallel market amount to 153 thousand dinars for every 100 dollars, while the official exchange rate is 132 thousand dinars.” ".
He added, "Which means there is a price difference of more than 20 thousand dinars. The reason for this lies in the limited supply of the US dollar and the difficulty of obtaining it by individuals or small merchants. This is what Baghdad seeks in a step to prevent smuggling and money laundering."
Idhib pointed out, "This step, despite its effectiveness, is somewhat harmful and has caused, as I said, a major shortage in the supply of the dollar, and the demand for it is increasing, especially with the demand of citizens during this period that is witnessing the disruption of official working hours and the departure of many Iraqis to travel to regions inside and outside Iraq."
He added, "In addition to the increase in purchasing power for shopping, as we are approaching the month of Ramadan, the market depends by up to 90 percent on imported dollars."
Idhib called for "implementing the policies adopted by the government of Muhammad Shiaa Al-Sudani, while liberalizing the factors for obtaining the dollar smoothly and according to certain ceilings for all citizens."
Selling prices in exchange shops in local markets in Baghdad today, Monday, reached 153,250 dinars, while purchasing prices reached 152,250 dinars. LINK
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