On Tuesday, Khalil Dusky, a member of the Parliamentary Finance Committee, urged the Central Bank to take urgent steps to cut off the sources of dollar smuggling and regulate the black market.
Dosky mentioned in an interview that failure of merchants to comply with electronic platforms and resorting to black market resulted in increased local market dollar price.
He suggested that the only solution was to enforce adherence to the platform and control the black market.
Dosky noted that traders are hesitant to purchase the dollar through electronic platforms.
The Iraqi dinar has been experiencing a challenging situation for almost two decades now. Once valued at 3.5 dollars per dinar in the past century, it has now dropped to more than 1,550 dinars to one US dollar. This has resulted in a significant deterioration of the Iraqi economy.
