Iraq: brokers raise the dollar price on the black market

Iraq: brokers raise the dollar price on the black market

November 14, 2016



The thirteenth consecutive year, the dollar exchange rate is subject to the will of Iraq's speculators, traders and brokers currency amid apparent inability of the central bank to tackle the crisis that sapped the shoulders of Iraqis.

The score of the dollar for the second consecutive month, the price of a big increase in the black market, as the US currency jumped to 1350 Iraqi dinars per dollar amid great economic crisis plaguing the country since mid-2015 and the exodus of funds from Iraq.

Iraqi bankers say that the dollar brokers buy it from the Iraqi Central Bank at a price of 1180 Iraqi dinars per dollar and sell it in the black market at a price of up to 1350 Iraqi dinars.

Observers considered that the sale of the dollar on the black market operations and the withdrawal of the wealthy their money from banks to pay large sums of hard currency towards the outside, Vokhalit arena in the market for "whales" who control the dollar prices.

He attributed the economic expert Abdul Wadood al-Obeidi, said in a statement to the "new Arab", the difference between the central bank rate and the black market to the "ongoing speculation and sell the dollar for top brokers in the Iraqi market, causing a rise in price during the month."

He added: "During the last three months, the dollar exchange rate ranges between 1850 and 1950 Iraqi dinars per dollar, but continued dollar selling operations by the central bank for brokers them to control the black market," adding that "this increase is reflected in the ultimate Iraqi consumers by increasing prices of imported goods. "

And it is accompanied by the high dollar exchange rate in the Iraqi black market to coincide with every major military operation launched on one of the hot cities in the country, since the Baiji and Tikrit, Diyala, Fallujah and Ramadi battles which have been rising exchange rate, according to specialists.

And he saw a strategic expert Sadeq al-Dulaimi that "the dollar brokers are finding their chance with every military operation, such as the battle of Mosul to raise the current dollar exchange rate, taking advantage of the preoccupation of the state security and the military to manipulate the market through large speculative."

He said that " the Iraqi Central Bank is responsible for the rise in the exchange rate of the big dollar dealings with brokers, including armed political views and parties window in the country , " without revealing these actors and parties.

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