Warning of a new rise in dollar prices.. Exchange offices hold the Iraqi Central responsible
economy The rise in the price of the dollar breaking Central Bank of Iraq exchange offices
Shafaq News/ Some owners of exchange offices in the Iraqi capital, Baghdad, warned on Sunday of a new rise in the exchange rates of the US dollar, blaming the Central Bank of Iraq for this rise due to the "new instructions" issued by it recently.
The owner of the "Al-Mas" exchange office in the capital, Baghdad, told Shafak News Agency, "The new instructions and pledges announced by the Central Bank a few days ago to sell the dollar to banks raised exchange rates during the past two days," noting that
"the banks will find it difficult to implement and implement these instructions."
He added that "these instructions, which will be applied on October 17, will push banks and merchants to the local market to obtain the dollar instead of obtaining it from the central bank through auction," expecting "the dollar exchange rates to rise more in the coming days."
In turn, the "Al-Fahd" exchange office in Baghdad told Shafaq News Agency, "The banks will find it difficult to implement the instructions regarding the purchase of dollars for foreign remittances to finance merchants for their imports," noting that
"this money constitutes more than 80% of the purchases that take place." at the bank auction.
He pointed out that "these instructions will put great pressure on the local markets, as the merchant will go to these markets to obtain the dollar to compensate for the shortage."
It is noteworthy that the Central Bank issued on September 26 new instructions for buying and selling foreign currency to licensed banks and mediation companies, which will be applied as of October 17.
In a statement, the bank indicated that the goal behind this is to maintain the stability of currency exchange rates and to abide by the requirements of the Anti-Money Laundering and Terrorist Financing Law.