Economic parliamentary assume management of the central bank responsible for the high exchange rate
Economic parliamentary assume management of the central bank responsible for the high exchange rate and non-professional accuses
Sunday, May 19, 2013 19:14
Baghdad / Baghdadi news / .. Carried the parliamentary economic committee, on Sunday, the central bank responsible for the high dollar exchange rate, accusing his administration of non-professional and the lack of strategic economic plans in dealing with the country’s monetary policy.
Said committee member Abdul Hussein Abtan in smc / Baghdadi News /, that “the high price of the dollar to / 1300 / Iraqi dinars order is justified in light of Iraq’s possession of reserves estimated / 74 / billion compared to previous years, which did not exceed the rate of exchange / 1160 / dinars, which had a reserve of / 10 / billion dollars, “the accused,” the central bank flop in the management of the economic file. ”
He added that “the absence of professional and economic plans strategy at Bank’s management, as well as the files of corruption that permeates the auction currency, money laundering and conflict of currency and smuggling of foreign currency out of the country, are all factors that greatly affect the exchange rate appreciation, which affects the purchasing power compared to the price sales, which holds citizens with limited income a heavy burden. ”
He continued that “the processes of corruption and clear witnessed selling by the Bank of sell / 5000 / thousands of dollars to citizens by passport, which has been exploited by gangs in the government and the Bank through obtaining passports and fake and the other of simple citizens cheaply to Astro by foreign currency . “calling” the central bank to take measures to reduce corruption and find ways to solve the crisis exchange rate appreciation. ”
The witness auction currency at the central bank since the days of a remarkable rise in the U.S. dollar against the Iraqi dinar, raising concern among the citizens with limited income that the rise may affect their purchasing power compared to the sale price under the dominance of imported goods on the Iraqi street.
The bankers and economists attributed the reasons for the high exchange rate of the U.S. dollar against the Iraqi dinar to the smuggling of hard currency to the Kurdistan region of Iraq, and from there to Iran amid speculation confidential. Noting that speculative operations and the withdrawal of foreign currency from the banking offices and private banks and private have been converted to the Kurdistan region in northern Iraq are then smuggled to Iran, which is trying to revive its economy amid conditions of the existing international, as well as the operations of financial speculation that takes place between unknown destinations to buy hard currency and transfer to neighboring countries, leading to a price rise in commercial markets.
Pino said the central bank to pump $ 300 million a day after he was pumped $ 200 million for control of the high exchange rate of the dollar, but these attempts did not work. Finished / 21 AH