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Do regional challenges play a role in the continued rise of the dollar in Iraq?
December 24, 2024
Baghdad/Iraq Observer
The researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed that the
reason behind the continued rise in the exchange rate of the dollar against the Iraqi dinar is the amount of demand for it in the parallel market, while
calling for the necessity of conducting an extensive study to analyze the reasons for this rise. Hantoush told the Iraq Observer,
“One of the most important reasons behind the continued rise in the exchange rate is the collapse of the Iraqi banking system due to the control of Jordanian and Gulf banks over the dollar, which caused the lack of competition and monopoly of the dollar.” He added,
"Among other reasons is the existence of huge trade with Iran and Syria without an official platform or commercial solutions or even preventing it.
It is a continuous trade and without any official restrictions.
In addition to the fact that travelers, who number in the millions, to Iran and Syria, they move without the cover of the dollar." He continued,
“Because there are small merchants, numbering in the thousands, who do not have companies or import licenses, which caused pressure on the parallel market,
therefore all of the above were not covered through the currency auction, which led to the continued state of fluctuation in exchange rates.”
The person concerned with financial and banking affairs continues to say that
“there are fears of wars in the region that push market traders and citizens to exaggerate the quantities imported and purchased, and also push some citizens to save dollars in anticipation of any emergency.”
Today, Tuesday, the exchange rates of the US dollar against the dinar recorded an increase in the local markets in the capital, Baghdad. The Iraq Observer correspondent said that
dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 151,200 dinars for every 100 dollars, while yesterday morning, Monday, they recorded 151,000 dinars for every 100 dollars. He added that
selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars.
https://observeriraq.net/هل-للتحديات-الاقليمية-دور-بأستمرار-ار/
December 24, 2024
Baghdad/Iraq Observer
The researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed that the
reason behind the continued rise in the exchange rate of the dollar against the Iraqi dinar is the amount of demand for it in the parallel market, while
calling for the necessity of conducting an extensive study to analyze the reasons for this rise. Hantoush told the Iraq Observer,
“One of the most important reasons behind the continued rise in the exchange rate is the collapse of the Iraqi banking system due to the control of Jordanian and Gulf banks over the dollar, which caused the lack of competition and monopoly of the dollar.” He added,
"Among other reasons is the existence of huge trade with Iran and Syria without an official platform or commercial solutions or even preventing it.
It is a continuous trade and without any official restrictions.
In addition to the fact that travelers, who number in the millions, to Iran and Syria, they move without the cover of the dollar." He continued,
“Because there are small merchants, numbering in the thousands, who do not have companies or import licenses, which caused pressure on the parallel market,
therefore all of the above were not covered through the currency auction, which led to the continued state of fluctuation in exchange rates.”
The person concerned with financial and banking affairs continues to say that
“there are fears of wars in the region that push market traders and citizens to exaggerate the quantities imported and purchased, and also push some citizens to save dollars in anticipation of any emergency.”
Today, Tuesday, the exchange rates of the US dollar against the dinar recorded an increase in the local markets in the capital, Baghdad. The Iraq Observer correspondent said that
dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 151,200 dinars for every 100 dollars, while yesterday morning, Monday, they recorded 151,000 dinars for every 100 dollars. He added that
selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 152,250 dinars, while the purchase price reached 150,250 dinars for every 100 dollars.
https://observeriraq.net/هل-للتحديات-الاقليمية-دور-بأستمرار-ار/
