An economist explains the mechanisms of reducing the gap between the official and commercial dollar price

Information / Baghdad… The economist, Safwan Qusai, explained, on Wednesday, the mechanisms for reducing the gap between the official dollar exchange rate and the one sold in the parallel market, pointing out the possibility of taking many measures and decisions by the government to ensure control over the exchange rate.

Qusai told Al-Maalouma, “The banking companies have an appropriate commission for the purchase and resale process, and they are supposed to adhere to such a commission, as the process of having a financial policy complementary to the policy of the Central Bank in order to control the price of the dollar in the parallel market requires a set of steps.” .

He added, “The steps would control the border crossings to reduce the volume of imports without external remittances, and urge Iraqi banks to shift towards documentary credits in a flexible manner that allows merchants to deal with suppliers from the white list.”

Safwan pointed out that “there are long-term contracts with them to allow import operations at times commensurate with the volume of local consumption.”

And that “the government can take more measures and decisions, in order to put pressure on the dollar in the parallel market, not only through censorship, but also by supporting the Iraqi dinar.”

Almaalomah.me