The stability of the Iraqi dinar exchange rate compared to the dollar today, Thursday economy

Baghdad– The Iraqi dinar exchange rate against the dollar has decreased relatively on the parallel market, with the stability of the price on the official market, at a time when exchange market activity in the capital, Baghdad and the rest provinces stopped.

The Iraqi dinar exchange rate compared to the dollar in official transactions

The Iraqi exchange rate of Dinar continued today to persist against the dollar of official transactions, as the bulletin of the results of the sale of the daily foreign currency issued by the central bank of Iraq indicated that the total reinforcements to the The foreigner amounted to around 273 million and $ 659,000 and total cash withdrawal is 22 million and 35,000 dollars, and with a total sale of 296 million and 9,000 dollars, and these official prices recorded:

• The sale price of transfers, documentary credits and international electronic cards: 1310 dinars for the dollar.
• selling price: 1305 dinars per dollar.

It should be noted that the central bank does not buy the dollar, but only sells it via the dollar sales platform, because it is the main source of the dollar in Iraq, and it obtains it in exchange for the sale of oil on a global scale.

The Iraqi Dinar exchange rate today, Thursday, on the parallel market

The Iraqi dinar exchange rate against the dollar decreased today, Thursday, on the parallel market, with a disparity not exceeding 2.5 dinars per dollar, when writing this report:

• The price of the dollar in Baghdad was 1512 dinars during the purchase and 1492 dinars during the sale. Yesterday, the price was 1505 and the sale price was 1490
• In Erbil, the purchase price reached 1501 dinars, and the sale price is 1493 dinars, after having recorded last night 1505 dinars.
• The exchange rate in Bassra reached 1502 dinars on Thursday, after having recorded 1504 dinars last night.

Iraqi dinar exchange rate against other currencies

• euro: 1547 dinars during the sale, while the purchase price recorded 1535 dinars.
• sterling: 1847 dinars for sale and 1832 dinars purchase.

Factors affecting the Dinar exchange rate

• Currency sales auction: The volume of daily sales in the sales auction of currencies considerably affects the exchange rate.
• Central Bank proceduresThe measures taken by the central bank in the fight against external transfers play an important role in stabilization of the exchange rate.
• The need for the dollar: Traders need the dollar to import goods from countries with economic sanctions by American Federal Bank, and it is prohibited to transfer the dollar via the official platform directly to the Dollar exchange rate against the Dinar , in particular with regard to Iran for the need for traders to considerably withdraw the dollar from the parallel market to pay for these imported invoices, which leads to high demand against offer and high prices.
• Remove the dollar from the entities dealing with the Iranian partSometimes some traders and brokers are purchased with the Iranian side of the dollar on the Iraqi market in large quantities to send to Iran, which needs the dollar for its international trade transactions because of the American sanctions which prohibit it from obtaining The American currency.
  Obtaining Iran obtaining the Iraqi dinar is by the payment of Iraq for Iranian invoices to operate the power plants in the Iraqi dinar because there is no payment mechanism in dollars Due to these sanctions; This purchase of the dollar on the parallel market leads to excessively high prices due to the imbalance of supply and demand.
• Dinar smuggling to other countries: He works with traders by passing the dinar to other countries to take advantage of the exchange rate teams between the official and the parallel that effectively affect the exchange rate in dollars.
• Merchants of merchants through information or rumors disclosed: Some merchants receive information disclosed from banks or the central bank on a possible procedure linked to changes in the mechanism for the processing of dollars, so that these exchanges take precautionary measures to increase or reduce the price, purchase or the Single sale The potential decision, and sometimes these leaks are only rumors of which its lie appears in the future, and its objective is to considerably pump currency to remove the dinar and buy in the future, be vice versa by buying the Dollar and withdrawing it from the market to sell it in the future.