Assurances aggressively Iran and Syria to buy the dollar
On: Wednesday 18/4/2012 6:32
ideas about Iraq
recently landed value of the Iraqi dinar against the U.S. dollar, the dinar because of the process of switching the huge dollar during the past few months, causing a drop in value. The reason for this is not a natural chain of events, and but counterfeiters and money-laundering and fraud, which is linked to some of the governments of Syria and Iran. Reports said that the exchange of a huge place in Iraq since the beginning of the year. In April 2012, the Economic Commission warned that the parliamentary foreign countries pump fake dinars to Iraq. And said the International Center for Development Studies in England that the gangs operating in Iraq are replacing forged dinars to the dollar.In February, suggesting that the novel spread traders the currency in Iraq no longer receive ten thousand dinars class after promotion from being a false rumor. A government source told the newspaper the Kurdish AK News that Iran has flooded the market with seven billion dinars forged thousands of class ten. Also promoted stories about the money launderers who buy the dollar, and massive fraud in Sulaimaniya, where he held dozens of currency traders in Sulaymaniyah partnership with business people like them in Iran, so the Iranians fraud on the Kurds, including $ 500 million settle now in Iranian banks. Since the beginning of 2012, increasing the number of such reports in Iraq, although some of them inspired by the rumors, but it has caused concern for banks. The reason for the link to Iran and Syria, with most of these reports is to sanctions imposed by the international community to these two countries.Variyal Iran, for example, has collapsed as a result and that both countries are seeking to obtain foreign currency.With and stripped of the means of access to these funds have resorted to the countries and illegal means to obtain it by paying attention to Iraq. As a result, the volume of the dollar in Iraq. Says the Governor of Central Bank of Iraq that there is an increase of 40-50% in the demand for the dollar since the beginning of this year. In 2011, the volume equivalent of $ 160 million a day, then rose to 400 to 450 million dollars per day in the month of March 2012, causing a deterioration of the value of Iraqi dinar. Last year, the dollar was the equivalent of 1120 Iraqi dinars. In April 2012 the value of the dollar to buy 1250 dinars. This had two main Tathren, first there were fears that the depletion of reserves of hard currency from Iraq if they continue their rates. Central Bank of Iraq tried to calm things down by declaring possession of $ 62 billion in savings, which officials considered more than enough to survive the current wave of the dollar, with the entry of billions of dollars into the country from oil exports. The second concern is the impact of inflation, which may affect the country. Is said to be volatile prices were already falling because of the value of the dollar. And with that the government seems capable of dealing with the request of the dollar, the common people are afraid of the consequences of the sudden.
the large increase in U.S. currency flowing out of the country forced the Iraqi Central Bank to intervene, where he tried to determine the amount of the dinar traded and new rules to require buyers of dollar disclosure full in an attempt to thwart intruders and gangs and front companies. The problem is there is no guarantee of work by these rules. And if the problems persist it may take more central bank measures such as determining the number of dollars offered by a day.
still not clear who was behind the purchase of the dollar in Iraq, but the percentage increases month after month.Currency traders and the general Iraqi people feel the effects of it. Likely that there will be groups of legal and illegal joint in this, some linked to Iran and Syria, where it began international sanctions to influence their economies, and the other provides for the Iraqi and easy way to get out of their problems by offering huge amounts of dollars every day helping the two countries to buy goods that countries could not buy it not for Iraq because Avcqadahma revenue with the usual siege Ausbandana. Probable that the Iraqi government in a common cause, but the problem lies in the weakness of the rule of law and government institutions may prevent the application of any approach is to be made, which means that Iraq will continue as an important outlet for its neighbors in order to get rid of the situation that suffer from it.