With the decline in value of the dinar amid disagreements between the central bank and the government .. Iraqis trust the dollar .. And preferences on the local currency
Most Iraqis would prefer to deal in dollars rather than local currency reflecting the lack of confidence in national currency by the citizens. Experts blame this phenomenon to the large fluctuations in the value of the dinar since the nineties, which was born out of fear and concern among many of the loss. Prevailed since 2003, in the U.S. war on Iraq, the phenomenon of handling large-dollar, state-level and the individual alike., Says the banking Zaki Hamza district of Kadhimiya that is easy on the conduct of foreign currency in any place you want, whether in shops or custom, even when street vendors and owners of “stalls” on the sidewalks. Indicates Hamza in this regard to the enormous proliferation of shops banking in Baghdad and other cities after it was limited in number in the nineties of the last century. But what is worrying, according to Hamza that most Iraqis prefer to deal in dollars instead of the dinar, and the desire to acquisition a very large, reflecting lack of confidence national currency by the citizens. due activist in finance and banking Ahmed Al-Wakil common to the high volatility in the value of the dinar since the nineties, was born in fear and concern among many of those who fear the loss in the future if Aqtnoa the local currency. works Ahmed Kadhim in banking Goodwill in the commercial streets, like a lot of young people who sleep on the ground in the crowded malls and they hold in their hands “intensities” paper money. Because of the buying and selling direct, are so many of the owners of the profession to theft and fraud, also passes through this way a lot of counterfeit currency into the market. Indicates Ahmad He backed that works in the market for beautiful in Baghdad as a “bank currency”, the number of counterfeit currency, which encounters every day , may return to it as the experience taught him caution and precision caused him after classes counterfeit losses last year., says Abu Ayman al-Kubaisi of Shorja market in Baghdad, said Iraqi traders and owners of stores would prefer the dollar to dinar for technical reasons and also for security. It strengthens the dollar in Iraq, the sources of goods in favor of the dollar, especially sources outside of Iraq. According to the researcher Economic Secretary to Luqman, the prevalence of the dollar between business and industry contribute to the erosion of the value of Iraqi dinar, which has seen a recovery in value since 2003. But Lukman, is expected to rise dinar significantly if the restored security situation significantly in addition to increased production and export of oil. The number of shops Banking approved in the year 1998 in all parts of the capital Baghdad, 360 offices, but now spreading in the hundreds in every city and province. And prefers to engineer Lamya Hussain convert part of her salary, which is equivalent to about one thousand five hundred dollars, to the hard currency as deposited in a bank. According to Lamia, much of the Iraqi staff started taking the same thing and would prefer the dollar as a Secretary of savings for them. According to social researcher Laith al-Samarrai, the dollar luster is unmatched by any glitter in Iraq. Due Samurai to the economic blockade experienced by Iraq, where the dollar was of great importance and difficult to get it by the citizens because of the low currency to a large extent. At the same time, many of the unemployed found in banking in the street, a method of income provides them a living. For his part, continues to Abu Ahmad Najafi of Shorja commercial center of the capital Baghdad, is confident of dealing with the Iraqi dinar due to change its value on an ongoing basis and the fear of economic fluctuations and political, which can occur suddenly. but Serafi morning Farhood “Khrih Faculty of Economics” sees that the legislation of laws governing the work of banking offices is very necessary, a technique effective in the fight against phenomena of money laundering and fraud, but that will not be enough – according to Farhood – to raise the value of Iraqi dinar . Farhood and calls to the influential role of the state in reducing the dominance of the dollar, which make the Iraqi dinar value ranges on the same for years despite rising oil prices. According Farhood, the deletion of zeros will contribute to the promotion of dealing in dinars. The Central Bank of Iraq has declared that the U.S. dollar accounts for almost 40 percent of local trading.