Economic proposals to reduce the differences between the official and parallel dollar price


Muhammad Al-Saadi, an economic affairs researcher, discussed how government processes and choices might be used to lessen the discrepancies between the official dollar exchange rate and the one traded on the parallel market.

“There is a commission that exchange companies receive when buying and selling dollars,” Al-Saadi informed Al-Maalouma, “and it is assumed that there will be a commitment to the specified commission according to the Central Bank’s policies.”

“The competent authorities can reduce demand for dollars by reducing money transfers and pushing for imports through documentary credits, so that the process of obtaining dollars at the official price runs smoothly, free of any complications that force the merchant to resort to the black market,” he added.

Furthermore, he stated that “there are many options available to the government in order to reduce the withdrawal of the dollar from the markets, particularly the parallel market, impose control and monitor any cases of manipulation or speculation, and support the dinar in the local markets, as well as providing more facilities for merchants to push them towards registering on the electronic platform in order to obtain dollars in order to import their goods.”


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