The continuing decline in Iraq, the dinar against the dollar and fears of its impact on the standard of living of citizens

Saturday April 7, 2012

Iraq Dinar saw a new low against the U.S. dollar to reach in local markets to 126.5 thousand dinars for the paper category percent dollars.¬†According to traders and shop owners banking that “the Iraqi dinar is witnessing a clear decline and this will lead to the loss of citizen confidence in Iraqi dinars, which was on the rise against the dollar over the past years.¬†They said the depreciation of the value of Iraqi dinar against the U.S. dollar continuing and …increasing daily as the decline began, no one / tiger one / to witness the deterioration beyond its price.

He expressed his banking shop owners fear of great loss that may Atqaibdoha citizen as well as a result of this continued decline in the price of the dinar.

He pointed Banking Nasser shop owner that the decline in the price of the dinar concern to us, we do not know whether the central bank will control or is it the decline will continue.

He said the central bank policy is clear and does not know the extent of pumping, which can control the exchange rate in the market.

Mohammad Karim says with a shop owner that there are problematic banking began to appear in the decline in the price of the dinar as the majority of citizens to have the debt and some want at the price fixed amount, which called on the dollar while the other party wants payment in Iraqi dinars.

He noted that this will lead to some problems which in turn affects the work of the owners of banking as the movement currently on the market between the ebb and flow.

He criticized the citizen Jassim Alwan, the Central Bank of the lack of control over the market price of the blocks loaded with political responsibility because of the differences between them and that led to the high price of the dollar.

He added that the Iraqi dinar began to lose its value and this will impact negatively on the employee and the average citizen because of the material prices will rise because the dollar will be imported and this in turn would lead to a lower standard of living of citizens.

And called on the government to move quickly to salvage the situation, because the price of the paper category hundred dollars price reached 127 thousand dinars after it was 120 thousand to 119 thousand and the price at which it relates and has not received in years.

The Economic Committee in the Parliament hosted the central bank governor, who promised to turn control of the Iraqi dinar exchange rate and to return to the previous $ 120 thousand dinars per category of the paper a hundred dollars