Economist: instability of the value of the dollar to dinar behind gold price volatility locally

Date: Wednesday, 25-04-2012   Baghdad (newsletter) … Economic expert explained the reasons for fluctuations in the price of fictitious Majed gold in local markets due to the instability of the exchange rate of US dollar to Iraqi dinar.   He mock (News Agency news) on Wednesday: the instability of the exchange rate of US dollar to Iraqi dinar current period behind the gold price volatility in the local market, the fact that the relationship between reverse any wrongdoing (the higher the value of the dollar gold price and vice versa as well).   He added: the current period and experiencing sharply the value of the US dollar in Iraq led to display large quantities of gold in local markets in order to bring the dollar and maintain the value of the dinar, pulling down its price relative to what it was in the past.   He mock: that Iraq is influenced by global markets and changes in gold prices, being dependent on import and not have something by either oil, many oil-importing countries when it considers that the price of oil had increased, trying to devalue the dollar by offering gold in local markets.  It is noted that the price of gold weight (21) in local markets (197) $

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