Expert: recession, stock market revaluation of the dollar and threatens the entry into force of the hard currency
Date: Thursday, 12/04/2012 12:14
Baghdad (news) .. Noted economist as beautiful existence recession in the Iraqi market for securities due to lower stock prices, prompting a shift to buy the dollar to trade him and thereby raising the rate of exchange against the dinar.
, said Jamil (for the Agency news) on Thursday: There are several factors that led to increase the value of the U.S. dollar against the Iraqi dinar, including internal factors such as increased drag on the dollar by the merchants and other third-party as a result are exposed Syria and Iran of economic blockade, making… these two countries Iltjian to Iraq to buy dollars to save their currencies.
He added that the inertia and the recession that hit the Iraqi market for securities financial result of low prices of shares, companies paid to buy the dollar and traded for the liberation of this recession happening in the Iraqi Stock Exchange, increasing the demand for dollar by the central bank, adding that the central bank sales are limited and can not sell large quantities of the dollar because the demand for buy large and will affect the local currency because the dollar is the cover of her.
pointed beautiful to: that the central bank can not pump large quantities of dollars into the local markets and is also able to stop the sales, this will lead to increase in price more and more, so be on the regulators and inspection in the scientific community specialized protection of the local currency to take its part to reduce this phenomenon as it threatens the Iraqi currency and will lead to entry into force of the hard currency of the country.
This could see the Iraqi dinar declined in value against the U.S. dollar, where he became the exchange rate of U.S. dollar equivalent of B (1300) DT . / Finished / 8. d. Q /