Financial: “Iraq is creating the conditions for even the Iraqi dinar against the U.S. dollar
Date: Thursday, 04/05/2012 20:48
Citizen / special / Sarah al-Obeidi at the time when the central bank that its policy on the level near will work to stabilize the Iraqi dinar exchange rate against the U.S. dollar, for mid-level and near will work to equal the exchange rate of the Iraqi dinar against the dollar, a number of finance confirmed that the implementation is step in such circumstances taking place in the country is complex and needs a short period in order that the central bank can be in his ability to equal the Iraqi dinar against the U.S. dollar (Citizen News) The follow up… this subject and was the first speaker. Financial expert, Munzer Mohsen said: “that it is very difficult in such complex conditions that are equal Iraqi dinar with the U.S. dollar for the time being at least, the reason for a number of objective reasons is most important that the budget that passed shortly before given a majority for the area Alchglah and not investment, making it difficult the development of the Iraqi economy to diversify its resource-dependent by an estimated 95% on oil exports, and that most of the materials, goods and services imported and non-productive and nationally. He improved “: the problem is the other sensitive to Iraqi oil, which is such a large proportion of the resources of the country is stable prices It is characterized by fluctuations at the global level as he is now at risk of serious and real because of the complexities of the political situation in the region and the risk of transformation into armed conflicts as they are in crisis, the Syrian and the Lebanese south, which relate directly and indirectly, the existing problem between Iran and the Zionist entity, backed by all States Bank and led by the United States and there are threats of increasing direct blow to Iran, which for its part, threatened to close the Strait of Hormuz, which is a port to export our oil major which will negative consequences on the economic situation of Iraq and thus the price of the Iraqi dinar. and resulted in improved in his interview with (Citizen News) “: he finds that the expectation of excessive optimism that was expressed by a senior officials of the Central Bank of Iraq on the equal rate of the dinar with the dollar but in spite of all that I is hyperbolic pessimistic because the scenario that is analyzed at the highest levels of decision-making at the regional level and international level adjustable or complete change because customary to crises when complicated there are opportunities to resolve them through informal meetings and secret negotiations!, and where there is many concessions on the part of one of the parties due to internal or external pressure versus specific guarantees and it is not predictable Bavtradih equal to the dinar and the dollar, at least until the clarity of picture of current reality tense but I would not call Palmtfjr as he put it. For his part, said a member of the Finance Committee and MP Abdul-Hussein al-Yasiri “: that the central bank was able to successfully follow the auction method, who is in the bank to maintain the value of Iraqi dinar. He Yasiri” The Central Bank every day working to buy Iraqi currency and sell the dollar, and this is what leads to the process of balance between the demand curve and supply in relation to the dollar, he said, adding that this curve intersects the price higher the demand for increased prices and the greater the supply the price dropped, and in this way maintains the central bank on the price of the dinar Iraqi and values of the economy in general. The Yasiri “: that the process is equal to the Iraqi dinar against the U.S. dollar depends primarily on core strength and stability of the domestic market as well as political and security stability. explained that the Iraqi dinar is the currency of an important and influential in world markets being covered with cash reserve large of hard currency, which is estimated at (60) billion dollars, and this number is too large due to central bank policy. Abizaid and Yasiri in his interview with (Citizen News) “that the gross national product and enhanced by oil revenues, which comes to Iraq, amounting to (300) billion U.S. dollars.