22 Hrs
Source:
شبكة راية الإعلامية
Black Market Tightens Grip on Gaza Currency
Gaza Strip is facing a severe cash liquidity crisis, which has turned obtaining money or disposing of cash into a burden for citizens and traders. The banking system's ability to perform its normal role has diminished, with the black market spreading and controlling cash flow and exchange rates, leading to some currencies being rejected and their value deteriorating in the market. Additionally, the lack of small change and the difficulty in cashing large amounts have increased residents' suffering, with many turning to electronic payments despite the weak technological infrastructure. The decline in banking activity, coupled with rising prices of goods due to transportation costs and commissions, are factors intensifying the economic crisis in the region. As poverty and unemployment rates soar, it becomes clear that the crisis is not limited to liquidity alone but encompasses the entire economy and commerce in Gaza.
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