Time: 11/18/2023 Read: 1,404 times {Economic: Al-Furat News} Member of the Parliamentary Finance Committee, Ali Jabbar Mu’nis, explained today, Saturday, that tightening control and maintaining the official price limits smuggling operations, and this matter falls on the responsibility of the government and the Central Bank.
For several months, the value of the Iraqi dinar has fluctuated sharply, losing on some days 15 percent of its value against the dollar, which sparked sporadic demonstrations by Iraqis worried about losing their purchasing power.
Muanis told {Al-Furat News} agency: “With regard to the rise in the exchange rates of the parallel dollar due to the lack of tight control over the parallel market, smuggling operations must be controlled according to mechanisms established by the government,” indicating that “tightening control and maintaining the official price limits smuggling operations.”
He added, "Remaining in this situation leads to maintaining the large difference between the parallel and official prices, and this matter falls on the responsibility of the Central Bank and the government," indicating that "the situation remaining in this situation is worrying and needs to be stopped."
During the past few days, many Iraqi banks have begun to stop giving depositors their money in dollars, even though they have accounts in Iraqi dinars and US dollars.
This came after statements made by officials at the Central Bank talking about preventing cash transactions in dollars and restricting them to the Iraqi dinar only in an attempt to control exchange rates.
The selling price of the dollar in Baghdad markets this morning reached 160,500 Iraqi dinars, while the buying price reached 158,500 dinars for every 100 dollars. LINK
