High exchange rate of the dollar caused by reduced central bank sales of foreign currency
Economist: high exchange rate of the dollar caused by reduced central bank sales of foreign currency
Date: 11/12/2012 12:33:33 Tuesday
Baghdad (news) .. Refer economist Salim al-Daini, reasons for the high value of the dollar against the Iraqi dinar during the current period to the policy of the Central Bank of the new and adopted to reduce sales of the dollar in the auction of foreign currency.
said Daini (of the Agency news) on Tuesday: The monetary policy pursued by the interim administration of the Bank Central aims to reduce dollar sales at auction central, the pretext of maintaining monetary reserves located in hard currency. added: that this policy is “wrong” because it does not rely on the principle of balance in the processes of supply and demand to buy the dollar, which increases the demand for the dollar with a view few amounts of hard currency in the market, and thus leads to the high exchange rate of the dollar against the dinar. This testifies dollar exchange rate during the current period slightly higher against the dinar, with a one U.S. dollar (1220) dinars, after it was equivalent to (1180) dinars per one dollar. / end / 8. n. p /