Financial expert explains the reason for the rise in the dollar price in the parallel market
Financial expert explains the reason for the rise in the dollar price in the parallel market
10-6-2024
Information / Baghdad..
Ahmed Brihi, a member of the Central Bank’s Board of Directors, explained on Sunday the real reason for the rise in the dollar exchange rate in the parallel market, indicating that the Iraqi dinar is stable and that the Central Bank still adopts the exchange rate of 132 dinars for every 100 US dollars. Brihi told / Al-Maalouma / agency, “The rise in the dollar exchange rate in the local market has nothing to do with the Central Bank’s measures because the bank still adopts the exchange rate of 132 dinars for the 100 US dollars denomination.” He added that “the reason behind the rise in the exchange rate in the parallel market is due to the rise in the demand for the dollar, especially by small traders who do not deal with the Central Bank, such as those who deal with essential goods imported at their own expense from abroad, because they believe that security events will worsen and that the need for demand for goods will increase so that they can achieve higher profits.” It is noteworthy that selling prices in exchange shops in local markets in Baghdad rose, as the selling price reached 154,750 Iraqi dinars for 100 dollars, while the purchase price reached 152,750 dinars for 100 dollars.
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