Revealing The Reason For The Persistence Of The Gap In The Dollar Exchange Rate Between The Official And The Parallel, 20 MARCH

 Revealing The Reason For The Persistence Of The Gap In The Dollar Exchange Rate Between The Official And The Parallel

Time: 03/19/2024 Read: 3,549 times  {Economic: Al-Furat News} An economic expert attributed the persistence of the price gap between the dollar and dinar exchange rates to “illegal trade.”

Nabil Al-Marsoumi told {Al-Furat News} agency, “Illegal trade with sanctioned countries is the main reason for the gap between the official price of the dollar and the parallel price, as it is difficult to cut off trade with neighboring countries such as Syria, Iran, and others like Russia, because they cover a large part of the market, especially with regard to goods.” and Iranian goods.

He added, "We expect the exchange rate to stabilize at these rates, and if the United States reconsiders and eases the sanctions, the price gap will decrease slightly now. It will not disappear."

It is noteworthy that the Central Bank of Iraq sells the dollar at the official rate of 1,320 dinars, while it reaches the “parallel” black market at a rate of 1,500 dinars.   LINK