Exchange companies are back operating and demand will decrease – an expert explains the decision to sell the dollar at the market price

Exchange companies are back operating and demand will decrease – an expert explains the decision to sell the dollar at the market price

11-23-2023

Exchange companies are back operating and demand will decrease - an expert explains the decision to sell the dollar at the market priceEconomist Manar Al-Obaidi said on Thursday that the new central bank decision allowing banks and exchange companies to sell the dollar at the market price, excluding their share of the currency window, will reduce the volume of demand in the parallel market.

Al-Obaidi in a statement to the 964 network:
The decision will help exchange companies return to work.

Only the dollar purchased from the Central Bank will be sold for 1,320 dinars, while the dollar purchased from travelers or other sources can be sold at the market price.

The decision will contribute to saving the dollar, especially since many travelers return with hard currency, and it could also contribute to reducing the demand for the dollar in the parallel market.

The mechanism for differentiating between the dollar received from the Central Bank and the dollar coming from other parties is possible through data submitted by exchange companies that own a share in the dollar window, to prove the sale of this share at the official price.

Formal measures can also be taken to monitor the implementation of the decision.

964media.com