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Al-Alaq describes the parallel dollar as “abnormal”: there is great stability in prices
November 7, 2024
Baghdad/Iraq Observer
The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while noting that
there is great stability in prices and a decline in inflation rates. Al-Alaq said, in an interview with local media, followed by “Iraq Observer”:
“We understand the state of focus on the rise in exchange rates in local markets, but
we believe that the focus should be on the ability of the central bank to implement full coverage of external transfers for commercial or other purposes, and this
“It happens on a daily basis.” He added,
“The daily dollar selling rates are high and almost sufficient to cover the needs of merchants, businessmen, and even citizens.
Therefore, we look at the price through the amount of sales that the Central Bank undertakes daily at the official rate.” He pointed out,
“The Central Bank looks at another indicator, which is the inflation rate in the market, and
we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” The Governor of the Central Bank continued:
“The price that is being traded in the market is in fact an abnormal price that does not reflect the reality of the price.
Usually, this price is called a parallel price when there is a real parallel market that has sources of dollars from other than the Central Bank.”
Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to merchants,” pointing out that
“more than 95% of the Central Bank’s daily sales are external transfers, and
this external transfer is the one that represents the reality of commercial and other transactions.” He covers it at the official price.”
https://observeriraq.net/العلاق-يصف-دولار-الموازي-بـالشاذ-وجو/
November 7, 2024
Baghdad/Iraq Observer
The Governor of the Central Bank of Iraq, Ali Al-Alaq, described the prices traded in a real parallel market as “abnormal,” while noting that
there is great stability in prices and a decline in inflation rates. Al-Alaq said, in an interview with local media, followed by “Iraq Observer”:
“We understand the state of focus on the rise in exchange rates in local markets, but
we believe that the focus should be on the ability of the central bank to implement full coverage of external transfers for commercial or other purposes, and this
“It happens on a daily basis.” He added,
“The daily dollar selling rates are high and almost sufficient to cover the needs of merchants, businessmen, and even citizens.
Therefore, we look at the price through the amount of sales that the Central Bank undertakes daily at the official rate.” He pointed out,
“The Central Bank looks at another indicator, which is the inflation rate in the market, and
we notice that there is great stability in prices and a decrease in the inflation rate, which indicates that foreign trade is covered by the official price, which is 132,000 dinars.” The Governor of the Central Bank continued:
“The price that is being traded in the market is in fact an abnormal price that does not reflect the reality of the price.
Usually, this price is called a parallel price when there is a real parallel market that has sources of dollars from other than the Central Bank.”
Al-Alaq called on citizens to “pay attention to the fact that the price they are looking at is the price at which the Central Bank sells to merchants,” pointing out that
“more than 95% of the Central Bank’s daily sales are external transfers, and
this external transfer is the one that represents the reality of commercial and other transactions.” He covers it at the official price.”
https://observeriraq.net/العلاق-يصف-دولار-الموازي-بـالشاذ-وجو/
