Central: Currency auctions are covered three markets trade a non-local
After the increase of the dollar against the dinar
blamed the Central Bank of the reasons for increasing prices of the dollar against the Iraqi dinar to a number of precautionary measures he has taken to curb the smuggling of the dollar, which is now covering trade in three markets to other countries, and expected stable exchange rates during the days coming through a package of measures said that the process taken to reduce those businesses that are hurt by the Iraqi economy in general, noting that the central bank is the financial capacity to be reckoned with and …has the capabilities Links can work the balance of exchange rates and restored to their natural level Kmzhadath daily to sell the dollar.
experts warn of continued high prices of the dollar, who said that he could affect the rates of inflation in general, arguing that the prices of materials and commodities have seen is the other notable gains resulting from the increase in the exchange rate, stating during conversations (morning) link to the overall material and imported goods prices, the dollar, which warned him, stating that the dollarization of the market order can affect the development process and economic development in many of the distortions.
The exchange rate of the dollar against the Iraqi dinar has been notable gains in the past week, and traders said the currency and shop owners exchange in Baghdad, said the price dollar stood at 1226 against the dinar, arguing the reasons for that increase the breadth size appetite for hard currency by traders who seek to sustainability Tjarathm by pumping large quantities of dollars into the neighboring countries in order to import materials and goods to the local market, stating that they receive the news to stop the central bank to Mzhadath daily , What is the effect on the availability of the volume of hard currency in the domestic market, which was denied by the deputy governor of the Central Bank of the appearance of Mohammed Saleh during his speech for the (morning), stressing that the bank is still going to hold Mzhadath daily, is that Saleh confirmed that the central bank recently touching a mismatch between the needs of the market from the dollar and what is being purchased in daily auctions of the coin, which invited him to look carefully about the reasons for this popularity is not reasonable to buy the dollar at a time when you do not need the volume of exchanges, only a quarter of what is being pumped from the dollar, said the benefit is confirmed that the risk of staring at the future of the Iraqi economy, which pointed out that the central monitor that nearly three other markets non-Iraqi funded by what is sold from the hard currency at auctions central, pointing out that that it paid to deliberate in the sale of such quantities of the dollar in a move aimed at maintaining the reserve cash from the dollar.
and the benefit that it made us two options should be on everyone Astiebhma, and is the first to sacrifice what we possess of cash reserves in dollars by selling large amounts of it, or stop selling the dollar and take the results and consequences that matter for the simple can not exceed two weeks or three and this is the second option.
and Saleh said that the present equation to provide a possible dollar is done by reaping the Iraq money is estimated rate of nearly 98 percent through the sale of oil, and turn that money back to the Iraqi dinar so they can be pumped through the public budgets of the country to local markets , which means that the process of sacrificing the quantities of hard currency (dollar) coming from the sale of oil will mean a shortfall in the budget next also confusion in the whole economic process in the country.
and Saleh said that the Iraqi dinar is the currency is very strong, which is covered by 120 percent of its value at current exchange rates, as well as that all the mass domestic monetary covered, so the central bank is working to control the cases of high exchange rate or increasing the rates of inflation through intervention in pumping large quantities of foreign currency through Mzhadath, especially as the dollar is the currency the main to cover the cost of many of foreign goods and services, is that the central monitoring and there is a change the size of the request, of the market was only the volume of sales simple everyday to the market demand began to double from the past many times and abnormally .. and asked for here: What is the factor behind the increased demand is interesting this? .. While difficult the answer so the question says MP: If we have provided all of these orders mean sacrificing cash reserve, especially as the applications are not commensurate with the needs of the current market, and this means that the dollar, which is sold in the auction currency became covers trade in other markets. Saleh said that the policy Anakdh in light of this matter passing through is not enviable, either meet the total demand of the dollar, and sacrifice the cash reserve of the Bank, or to stop the sale of foreign currency a factor that helps to rising prices and increasing inflation rates, indicating that the central seeks to achieve the free transfer of external for all But a disciplined and do not serve markets or other purposes.
and Saleh said that the phenomenon of increased demand alarmingly on the dollar began to actively since last December, which called for the bank to monitor all the funds that are sold through Mzhadath daily, in a move aimed at wealth preservation national money difficult, especially as the resource is the only financial and fixed to the country of the dollar comes through flows sale of oil, which increases the responsibility of safeguarding the financial revenues and cash reserves of a global currency.
pointing at the same time that the bank about a rare condition to obtain, either carrying case of instability to get to the real demand for the dollar, or sacrifice Bahtiattiyath, stressing that the bank’s future to resolve that dilemma on a program to fund private sector trade and meet its reserves in accordance with criteria important to keep the dollar from our findings.