Al-Saadi: Importers’ dependence on the dollar is behind its failure to devalue it in the parallel market
Al-Saadi: Importers’ dependence on the dollar is behind its failure to devalue it in the parallel market
7-7-2023
Information / Baghdad..
The researcher in economic affairs, Muhammad Al-Saadi, explained, on Friday, that the total dependence of importing traders on the dollar in the parallel market is behind its continued rise in the parallel market.
Al-Saadi told Al-Maalouma that “many merchants, especially importers, depend on the dollar on the black market, and did not go to the electronic platform in order to obtain the dollar at the official rate.”
He added, “The lack of locally produced commodities pushes the trader to go abroad in order to import, and therefore he has the option of going to obtain the dollar from the official platform, and he may go to erase the parallel market in order to obtain the currency as quickly as possible.”
And he indicated that “the volume of demand for buying the dollar, especially by speculators and traders, made some exchange shop owners monopolize the currency and store it in order to raise its value in the parallel market and obtain great benefits, despite the government’s measures to control prices.”
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