After a jump in dollar prices.. an expert talks about “black transfers” and currency smuggling similar to oil derivatives
After a jump in dollar prices.. an expert talks about “black transfers” and currency smuggling similar to oil derivatives
2022-12-26 06:16
Shafaq News/ The expert in financial and economic affairs, Nabil Jabbar Al-Tamimi, warned, on Monday, of the dangers of the continued rise of the dollar in the local market.
Al-Tamimi told Shafaq News agency, “There are risks in the case of the Central Bank’s continuing decline in currency sales, to below the level of 180 million dollars per day, which contributed to pushing the dollar locally towards an increasing increase, especially with the tightening of procedures on commercial transfers of various kinds, which may lead to Finally, a weakness in the supply of various commodities and the exacerbation of the problem, which may lead to a scarcity of supplies and then an increase in their prices due to the scarcity of commodities, the high price of the dollar and the high costs of remittances.
He added, “The measures required to avoid these risks are negotiating with the US Federal Reserve and the US Treasury to give greater opportunities for the passage of remittances, especially medium and small ones, and to ease restrictions, and for the security authorities to stop the process of smuggling currency by land (black remittances), if any, and transfer it towards countries (Turkey and Iran). smuggling operations similar to smuggling oil derivatives.
The expert in financial and economic affairs stressed that “the government’s discourse and the central bank must confirm the continued pumping of money in hard currency and maintain the stability of the exchange without intending to change upwards, with the use of several mechanisms to conduct foreign transfers and not be limited to transfers of documentary credits to finance foreign trade, with the direct intervention of the bank.” The Central Bank to organize large transfers to merchants through mechanisms adopted by the Central Bank without the mediation of private banks.
The exchange rates of the dollar rose against the Iraqi dinar, today, Monday, with the closure of the main stock exchange in Baghdad, and Erbil, the capital of the Kurdistan Region.
Shafaq News agency reporter said that the central Al-Kifah Stock Exchange closed in Baghdad at 157,600 Iraqi dinars, compared to 100 dollars.
Our correspondent indicated that the buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 158,000 Iraqi dinars, while the purchase prices reached 157,000 dinars for every 100 dollars.
In Erbil, the dollar also recorded an increase with the closing of the stock market, where the selling price reached 157,250 dinars for every 100 dollars, and the purchase price was 157,150 dinars for 100 dollars.
shafaq.com
