Economist reveals reasons for continued rise in dollar price

Information / Baghdad… Economic expert Safwan Qusay confirmed today, Tuesday, that the dealings of some Iraqi traders with the sanctioned markets contributed to increasing the demand for the dollar in the informal market.

Qusay said in an interview with Al-Maalouma Agency that “controlling the dollar exchange rate is the responsibility of the Central Bank of Iraq,” noting that “the Central Bank provides the dollar at the official price to all remittances and external financial credits, provided that this request is legitimate.”

He added, “There is still room to attract legitimate requests from within the informal market to the platform or international correspondent banks directly.”

He continued, “Iraq’s consumption of goods must be determined and it is possible to know the goods that are consumed domestically but do not enter the platform in order to organize import licenses in a way that does not allow the request for dollars from the informal market.”

He pointed out that “the Ministry of Finance pledged to control the border crossings and not allow the entry of goods outside the framework of the crossings, in addition to the rest of the ministries that pledged to increase the capacity of local production in order to reduce import operations.”

He pointed out that “the exchange rate requires cooperation between the financial, monetary and production authorities in order to be able to control it in local markets,” noting that “the dealings of some Iraqi traders with the sanctioned markets contributed to increasing the demand for the dollar in the informal market.”

Almaalomah.me