Chambers of Commerce: The parallel market for the dollar will reach record levels


Due to the disturbance, the Chambers of Commerce declared on Saturday that the parallel market price will exceed 200,000 dinars for every 100 dollars.

In an interview with Al-Maalouma, Muhammad Al-Tamimi, the head of the Chambers of Commerce in Diyala, stated, “Dollarization still attracts a large portion of transactions in Iraqi markets, including buying and selling cars, not to mention the loss of the presence of most national industries, which puts pressure on foreign imports in hard currency.”

He stated, “The parallel market for selling the dollar may rise to 200,000 dinars for every $100 for three reasons, the first of which is the continued pressure on withdrawing the dollar along with the budget pressure on the ministries and the start of reviving large projects that require materials of which 75% are imported, not to mention errors in granting travelers their shares from the sale.” The currency is at government pricing, forcing people to buy on the black market.”

He stated that “the parallel market needs a comprehensive vision that determines the mechanisms for pushing prices down while providing food and medicine at appropriate prices that prevent the poor from being harmed by any further wave of rise.”

The parallel market for selling the dollar is unstable due to speculation that occurs from time to time, leading to higher pricing.


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