Chambers of Commerce: The parallel market for the dollar will reach record levels
Chambers of Commerce: The parallel market for the dollar will reach record levels
9-30-2023
Information / Baghdad
The Chambers of Commerce confirmed, on Saturday, that the parallel market price will reach 200,000 dinars for every 100 dollars due to the unrest.
The head of the Chambers of Commerce in Diyala, Muhammad Al-Tamimi, said in an interview with Al-Maalouma, “Dollarization still attracts a large portion of transactions in Iraqi markets, including buying and selling cars, not to mention the loss of the presence of most national industries, which puts pressure on foreign imports in hard currency.”
He added, “The parallel market for selling the dollar may rise to 200,000 dinars for every $100 for three reasons, the first of which is the continued pressure on withdrawing the dollar along with the budget pressure on the ministries and the start of reviving large projects that require materials of which 75% are imported, not to mention errors in granting travelers their shares from the sale.” The dollar is at government prices, forcing them to buy directly from the parallel market.”
He pointed out that “the parallel market needs a comprehensive vision that determines the mechanisms for pushing prices down while providing food and medicine at appropriate prices that prevent the poor from being harmed by any further wave of rise.”
The parallel market for selling the dollar is witnessing instability in light of speculation that emerges from time to time, leading to raising prices higher.
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