IDENTIFYING THE MAIN REASON FOR THE RISE OF THE DOLLAR IN IRAQ
Financial expert Mahmoud Dagher confirmed on Sunday that customs duties are behind the rise of the dollar in local markets in Baghdad and in Erbil, the capital of the Kurdistan Region.
Dagher, who also served as a former director at the Central Bank of Iraq, told Shafaq News Agency that “the application of the pre-transfer customs duty is behind the rise of the dollar against the dinar in local markets.”
He added that “traders are required to bring the customs declaration (customs statement) from the ASYCUDA system before a bank transfer can be made to them, and therefore they resort to the market to obtain dollars.”
The dollar has risen against the dinar gradually over the past few days in local markets, reaching 145,000 dinars today, for every 100 dollars.