AJ
A surprising decision: authorities have stopped supplying travelers with dollars at the official price of 1,320 IQD per USD. This is very confusing.
Last summer, the CBI placed restrictions on travelers, requiring them to use the official rate. Now, it looks like this restriction has been lifted. Does this mean travelers will have to use the parallel market rate, which is 1,485 IQD per USD today? By stopping dollar supplies to travelers at the official rate, more demand will shift to the parallel market, potentially pushing the rate higher. The official narrative attributes this decision to a lack of dollar reserves, but there may be more at play. The CBI has been under U.S. pressure to curb dollar outflows to sanctioned countries like Iran, as seen in the 2024 ban on dollar auctions and the 2023 ban on cash withdrawals This move could be a deliberate policy to further restrict dollar access, forcing more transactions through regulated channels to comply with U.S. sanctions. However, it risks fueling the parallel market, which the CBI has historically struggled to control, or could be someting bigger - To end the parallel market that needs to happen 1st. Additionally, the timing...amid falling oil prices and U.S. tariffs...suggests Iraq may be preparing for something,
A surprising decision.. Stop supplying travelers with dollars at the official price
{Local: Euphrates News} An informed source said on Sunday that the concerned authorities have stopped supplying travelers with the US dollar at the official price of 1320 dinars per dollar.
The source said to {Al-Furat News}, that: “It was decided to stop supplying travelers with dollars at the official price of {1320 dinars}.” The source explained that “this step came as a result of the lack of sufficient quantities of currency from the competent authorities, amid increasing demands from exchange companies to provide the dollar continuously to meet the needs of travelers.” THIS REASON IS BS
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