MP: There are risks facing the dinar

05/06/2012 0:00

BAGHDAD – Al Sabah 
warned a member of the Finance Committee MP Abdel Hussein al-Yasiri the vulnerability of the Iraqi dinar for international war to weaken it, pointing to the importance of a plan by the Central Bank to combat speculators on the dollar and reduce its value. Yasiri said: You should develop a plan of accurate scientific by the Central Bank to cut rate exchange of the dinar against the dollar, by not selling hard currency few days in a row, but must be Payam different to surprise the speculators who buy the dollar, and the development of complicated procedures for the sale in order to reduce the demand for dollars from the auction of the Central. and Yasiri’s (news): The Iraqi dinar is exposed an international war regional to weaken and reduce its value against hard currencies, which are doing their best to drain dollars from Iraq and increase the rate of exchange. It is noteworthy that the value of the U.S. dollar increased during the nineties of the last century to reach (3000) dinars to the dollar as a result of the economic embargo imposed on Iraq , and after a year (2003) picked up the dinar is somewhat due to increased oil exports and providing international assistance to Iraq, bringing the total amount provided by (62) billion dollars, and on its impact on the price of the dinar exchange (1166) to the dollar and continued for a long time while maintaining the same price.