Al-Kadhimi: The parallel market is behind the rise in the dollar exchange rate.
Al-Kadhimi: The parallel market is behind the rise in the dollar exchange rate.
10-27-2025
Al-Maalouma / Baghdad…
Representative Moeen Al-Kadhimi confirmed, on Monday, that the rise in the dollar exchange rate is mainly due to the trend of most traders towards the parallel market (black market) to purchase hard currency to finance import operations.
Al-Kadhimi said in a statement to Al-Maalouma Agency, that “most traders resort to the parallel market to obtain dollars,” indicating that “this trend has led to an increase in demand for the dollar on the black market, which has caused a noticeable rise in the exchange rate.”
He added that “the solution requires the Central Bank and the Ministry of Finance to facilitate banking procedures for real traders and control the movement of funds through the official banking system to reduce the need for the parallel market,” noting that “the continuation of this situation will lead to increased economic pressures and higher prices in local markets.” Al
-Kadhimi concluded his remarks by stressing that “the Parliamentary Finance Committee is closely following this issue and will work to find urgent solutions that ensure the stability of the exchange rate and protect consumers from the repercussions of the dollar’s rise.”
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