Member of the Economic Committee: U.S. dollar exchange rate rose against the dinar because of the specific purchase rates exceeded
On: Tuesday 10/04/2012 10:33
Baghdad (news) .. Attributed by the Economic Commission deputy / coalition in Iraq / Qusay Fri reasons for the increased exchange rate of U.S. dollar against the Iraqi dinar to bypass corporate rates set out for them to buy foreign currency from the central bank, calling for monitoring the work of specialized companies to sell hard currency to maintain the value of the dinar.
said Friday (the Agency news) on Tuesday: There are companies licensed by the Central Bank of specialized buying the U.S. dollar from the auction of the central and …you are selling in local markets, and each company percentage profitability of certain of the benefits when you buy currency by the Central Bank, stressing that the companies have started exceed the percentage allocated to them based on the size of demand in the domestic market of the U.S. dollar, which led to increase the value of the dollar against the dinar.
He added, must monitor these companies to maintain the exchange rate of the Iraqi dinar against foreign currency, indicating that the central bank follows a monetary policy successful through the sale of coins and buy them in the auction, and can not be Alchukk the work of the Central Bank.
A member of the Finance Committee MP / National Alliance / Abdul-Hussein al-Yasiri in an earlier statement (of the Agency news): The currency is a commodity and the applicable law “Ditamikih supply and demand” any The greater the demand for the purchase will increase its price and vice versa as well.
He added that an increase in the exchange rate of U.S. dollar against the Iraqi dinar in recent times due to the increased demand to buy the dollar, generating a kind of fear in the Central Bank to increase the withdrawal of the dollar and drained from the local markets, and this is what him to reduce the sales of the dollar in the market for auction.
This has increased the exchange rate of U.S. dollar against the Iraqi dinar, reaching its price (1226) dinars to the dollar, and had arrived in price during the past three days b (1300) against the U.S. Dollar. / Finished / 8 . d. Q /