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Within days"... Businesses are "confused" with expectations of a rise in the dollar exchange rate in the parallel market
12/27/2024
Baghdad
Economic expert Ahmed Al-Tamimi expected, today, Friday (December 27, 2024), that the dollar exchange rate will continue to rise in the parallel market in the coming days.
Al-Tamimi told Baghdad Today, "The dollar exchange rate in the parallel market has been rising continuously for days," expecting "it to continue rising during the next stage, and this matter is directly linked to the imminent announcement of the platform's suspension by the Central Bank of Iraq."
He added, "This matter has caused clear confusion in business," noting that "there is an increasing demand for the dollar in the parallel market, after this announcement due to fears and traders' lack of knowledge of how to deal with banks regarding foreign transfers."
He stressed that "this increase has increased the exchange rate and we expect the exchange rate to increase, and for this reason the Central Bank of Iraq must clarify the new mechanisms for foreign transfers and how they will be through banks, in order to reassure the street."
Earlier today, Thursday, economic expert Nasser Al-Tamimi revealed the reason for the continued rise in the dollar exchange rate in local markets for days.
Al-Tamimi told Baghdad Today, "There are two main reasons behind the continued rise in the dollar exchange rate in local markets for days," indicating that "the first reason is the imminent suspension of the platform's work at the Central Bank, as this matter has caused confusion in the market, especially among small traders, who have increased their demand for dollars from the parallel market. "
He added, "The other reason is the proximity of the New Year's celebrations, as there is a demand for the dollar in the parallel market for the purpose of travel as well as buying some goods," expecting "the rise to continue until the beginning of the new year, after which it may return to a gradual and slow decline."
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