In an economic analysis. The most prominent reasons for the disparity of dollar prices in Iraq

  The economist, Salah Nouri, pointed the US embargo is one of the most prominent reasons for the disparity of dollar prices in Iraq.

“Another reason that affects the disparity between the market price parallel to the US dollar and the official exchange rate is the US embargo on both {Russia, Iran, Syria},” Nouri said via {Euphrates News}.
“Therefore, it is not possible to import goods and goods from them through money transfers through the electronic payment system of the Central Bank of Iraq, but by obtaining the dollar from the parallel market, that is, increasing the demand for it,” Nuri added.
price stability
In addition, the financial advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed the stability of the dollar exchange rate against the dinar, despite its rise significantly today, reaching 1500 dinars.
Saleh showed {Euphrates News} that the fixed exchange rate system in Iraq is based on an international reserve base that is the highest in Iraq’s history and monetary policy, as the foreign currency covers more than 100% of the total currency currently issued.
In the face of the strength of the official central exchange market, the exchange rate of the dollar to the dinar in the parallel market today in our country does not constitute any relative importance in the stability of the general level of prices, which has become that general price level stable in its vehicles and trends due to the impact of the current dominant official exchange rate factor on the financing of foreign trade (import) of 1,320 dinars per dollar.
Selling prices in the field of banking in local markets recorded with the closure of the main stock exchange in Baghdad, on Thursday, 149,750 Iraqi dinars for $100, while the purchase reached 147,750 dinars for 100 dollars.

Raghid

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