CBI, Finance Committee discuss fluctuation in IQD and dropping of zeros; CBI rejects tapping reserves or GOI intervention

Vice Chairman of the Committee of Finance: the dinar will not regain its natural road to the lack of a robust economy, On: Wednesday 09/05/2012 12:46

Baghdad (news) .. The Deputy Chairman of the Finance Committee MP / Kurdish coalition blocs / Ahmed Hassan overflow of God, that his committee proposed to the Governor of the Central Bank to act cash reserve is located from the dollar to maintain the value of Iraqi dinar, stressing that the Central rejected the proposal and the intervention of any point in his work.

said overflow God (of the Agency news) said on Wednesday: that the meeting has been made in the Finance Committee, the parliamentary presence of the central bank governor, touched on several topics of interest to the national economy and the Iraqi dinar, most notably preserve the value of the dinar against the dollar and how to work a project delete the three zeroes from the currency, indicating the lack of to reach any conclusion about those topics.

He added that his committee submitted a proposal to the Central Bank Governor Sinan Shabibi act reservoir monetary existing hard currency “dollar”, which was estimated at more than (60) billion dollars, in order to stabilize the exchange rate of the dinar against the dollar, However, the Shabibi refused and asked not to enter any point of his work that the Central Bank is an independent body.

ruled out MP Faizullah: restoration of the Iraqi dinar during the current period with the absence of local products and dependence on extractive industries “oil”, because the increased value of the dinar you need to economy solid based on the sectors of the economy significantly.

and the project to delete the three zeroes from the currency, he pointed out: that the time is still not perfect and can not be that the project is implemented in a period marked by crises and lack of political and economic stability in the country, saying most of the members of the Finance Committee are not convinced this project it does not hurt the interests of the Iraqi people at the present time.

witnessing the Iraqi market rise significantly from time to time in the exchange rate of the dollar against the Iraqi dinar, as the price of dollar-buying in some of the last few days to the (1300) dinars, while the price specified by the Central Bank until This is currently (1166), an increase of JD) 134 (dinars per dollar, and that the equivalent of about (11%) of the price specified formally.