Information / Baghdad
The head of the Chambers of Commerce, Diyala Muhammad Al-Tamimi, confirmed on Monday that there had been a significant increase in the prices of basic goods and foodstuffs due to the continued rise of the dollar in the parallel market, accusing America of working to destroy the national economy.
Al-Tamimi said in an interview with Al-Maalouma, “The rise in the dollar exchange rate in the parallel market represents a source of concern for the markets in Iraq, as it leads to pressures that lead to a significant increase in the prices of basic materials, including food and medicine, with no controls to curb prices.”
He added, “There are four reasons for the rise in the parallel market, the most prominent of which is the high levels of demand for purchases for reasons related to paying dues for commercial transactions, in addition to paying the costs of travelers for the purposes of tourism, treatment, and visiting religious shrines, accompanied by pressure with the launch of the budget, which requires the purchase of imported materials to establish projects.”
He pointed out that “Washington plays a negative role in the parallel market file by imposing sanctions and limiting the flexibility of the dollar’s movement, which creates greater pressures that lead to a contraction of cash with an increase in demand, which leads to an increase in parallel market prices, which may rise to much higher levels if the matter remains as it is without… variables”.
The exchange rates of the dollar in the parallel market have witnessed a remarkable rise recently, with it reaching the threshold of 160 thousand dinars for every 100 dollars.
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