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Parliament identifies 3 reasons behind the significant rise in the price of the dollar
politics , 11/07/2023 19:29 Number of readings : 291
Baghdad - Iraq Today:
Member of the Parliamentary Integrity Committee, Representative Ali Turki, on Tuesday, identified three reasons behind the continued rise in the exchange rate of the dollar against the dinar.
Turki said in a press statement,
“The continued rise in the exchange rate of the dollar against the Iraqi dinar is worrying the Iraqi street after the central bank’s inability to stop this worrying rise,” pointing out that
“we cannot identify three main reasons behind the failure to find effective solutions to the crisis.”. He added,
"The first reason, which is recognized, is related to the economic war waged by the American administration since the beginning of the formation of the coordination framework government in order to fail and bring it down through the restrictions practiced by the American Federal Bank." Turki continued:
“The second reason is the failure of the Central Bank of Iraq’s policy to develop solutions to stand in the way of the continued rise in the exchange rate,
especially when dealing with payments to merchants, as
the bank delays them for a period of two weeks, which made weak souls exploit that delay towards merchants who resort to the parallel market to obtain On the dollar because they are linked to financial contracts, and any delay causes them very large losses.” He stated,
“The third reason is related to the problem of the absence of cash liquidity due to the presence of large financial withdrawals carried out by usurious investment companies that grant the citizen interest that may exceed more than 10%, and
this large liquidity has not been deposited in local banks and banks.”
https://iraqtoday.com/news/77146/البرلمان-يحدد-3-أسباب-وراء-الإرتفاع-الكبير-بسعر-الدولار
politics , 11/07/2023 19:29 Number of readings : 291
Baghdad - Iraq Today:
Member of the Parliamentary Integrity Committee, Representative Ali Turki, on Tuesday, identified three reasons behind the continued rise in the exchange rate of the dollar against the dinar.
Turki said in a press statement,
“The continued rise in the exchange rate of the dollar against the Iraqi dinar is worrying the Iraqi street after the central bank’s inability to stop this worrying rise,” pointing out that
“we cannot identify three main reasons behind the failure to find effective solutions to the crisis.”. He added,
"The first reason, which is recognized, is related to the economic war waged by the American administration since the beginning of the formation of the coordination framework government in order to fail and bring it down through the restrictions practiced by the American Federal Bank." Turki continued:
“The second reason is the failure of the Central Bank of Iraq’s policy to develop solutions to stand in the way of the continued rise in the exchange rate,
especially when dealing with payments to merchants, as
the bank delays them for a period of two weeks, which made weak souls exploit that delay towards merchants who resort to the parallel market to obtain On the dollar because they are linked to financial contracts, and any delay causes them very large losses.” He stated,
“The third reason is related to the problem of the absence of cash liquidity due to the presence of large financial withdrawals carried out by usurious investment companies that grant the citizen interest that may exceed more than 10%, and
this large liquidity has not been deposited in local banks and banks.”
https://iraqtoday.com/news/77146/البرلمان-يحدد-3-أسباب-وراء-الإرتفاع-الكبير-بسعر-الدولار
