Baghdad Today – Baghdad
Economic expert Ahmed Al-Tamimi predicted on Friday (December 27, 2024) that the dollar exchange rate in the parallel market will continue to rise in the coming days.
Al-Tamimi told “Baghdad Today” that “the dollar exchange rate in the parallel market has been rising continuously for days,” expecting “it to continue to rise during the next phase, and this is directly related to the proximity of the announcement of the suspension of the platform by the Central Bank of Iraq.”
He added that “this is a clear cause of confusion in the business,” pointing out that “there is a growing demand for the dollar in the parallel market, after this announcement due to the fears and the lack of knowledge of traders how it will be to deal with banks regarding foreign remittances.”
He stressed that “this increase increased the exchange rate and we expect it to increase the exchange rate, and for this the Central Bank of Iraq must clarify the new mechanisms of external transfers and how they will be through banks, in order to reassure the street.”
The specialist in economic affairs, Nasser Al-Tamimi, revealed earlier on Thursday, the reason for the continued rise in the dollar exchange rate in local markets for a few days.
Al-Tamimi told Baghdad Today that “there are two main reasons behind the reason why the dollar exchange rate has continued to rise in local markets for a few days,” noting that “the first reason is the proximity to stop the platform in the Central Bank, this is a reason for confusion in the market, especially among small traders, who increased their demand for the dollar from the parallel market.”
He added that “the other reason is the proximity of the New Year’s celebrations, there is a demand for the dollar in the parallel market for the purpose of travel as well as the purchase of some goods,” suggesting that “the rise will continue until the beginning of the new year, and then it may return to gradually and slowly decline.”
