Economists stress the inability of the central bank to control the fluctuation of exchange rates of the Iraqi dinar in a market
Date: Thursday, 04/19/2012 23:58
Citizen / special / Sarah al-Obeidi
said a number of economists from the negative repercussions that could affect, directly on the fluctuation of exchange rates of the local currency of the Iraqi dinar in the country, emphasizing in conversations for (newspaper Citizen) “: that the central bank does not have the ability to control on the value of Iraqi dinar against the dollar, calling them the need to take concrete actions to increase the value of local currency in the country. economist behind Kanani “: called to the need to speed up the control of the prices of the domestic currency in the country, for experienced from the fluctuation in value in recent . and Kanani “: that the use of a group of financial experts and economists of international work to reduce the risk of problems that will arise on the currency, Mdzma”: that the entry of international expertise of economists and finance will help the central bank to control the Iraqi dinar exchange rate. He added: “The value of Iraqi dinar fluctuated as a result the demand for the dollar this, which led to lack of control over the Iraqi dinar, despite authorized by the Central Bank and its ability to control exchange rates, but it’s just a statement (unsuccessfully) to limit the words and reflect the health of what we see in the Iraqi street due to increased demand for the dollar. said Kanani at the end of his talk with the (newspaper Citizen) “: that of neighboring states is the actual cause behind the lack of stability of the dinar Iraq as a result the demand for the dollar and the resulting inability of the central bank to maintain the value of the local currency. and cycle saw an economist, Ghassan al-Amiri, “The monetary policy in Iraq should aim to reduce the impact of fluctuating exchange rate of Iraqi dinar on the inflation rates in the country. The Ameri’s (newspaper Citizen)”: that the issue of the dinar exchange rate should be considered to in the overall monetary policy framework of the state, stressing that the volatility evident in the Iraqi dinar exchange rate could lead to loss of confidence of local citizens Bammelth. He said, adding: “that the fluctuation of the value of Iraqi dinar against the U.S. dollar continued and growing daily, without that there will be control of the real by the Central Bank!! Suggest Amri”: the most important ways to control the value of Iraqi dinar is to work on finding additional sources to bring the currency Alajnah of the Iraqi market and the need to work to find the products effectively such as the development of Iraqi industries, agricultural and strengthening trade exchange between countries that have trade exchange among traders only in local currency. For his part, Vice Governor of the Central Bank of the appearance of Mohammed, “The Bank is continuing to hold Mzhadath daily aim to create a balance price between the dollar and the dinar. However, the benefit confirmed in a statement: “The central touch recently 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 does not require the volume of exchanges, only a quarter of what is being pumped from the dollar. The government has formed a committee to follow up the issue of the rise of the dollar and the fluctuation of exchange rates of the Iraqi dinar headed by Deputy Prime Minister for Energy, Hussain al-Shahristani, prompting surprise economists that the Committee did not include experts from the Central Bank is on this issue as it did not include economists and limited to the Secretary General of the Council of Ministers and is known not to his knowledge of economic matters as the Chairman of the Committee has no experience in this matter, a specialist energy things in addition to other employees are not interested in the case.