Parliamentary affirming the continued rise of the dollar and an expert on financial demands that restrict the sale
Parliamentary affirming the continued rise of the dollar and an expert on financial demands that restrict the sale
05/02/2015 (00:01 pm)
BAGHDAD / long-Presse
Parliamentary Finance Committee, confirmed on Wednesday that the rise in the dollar exchange rate “will not last long”, and demanded that the central bank using monetary tools to control the market, while the possibility of stabilizing the market and re-dollar natural position economist, counting financial expert to determine the sales ceiling. ” would not be feasible, “and stressed that the best solution is not to restrict dollar sales and increased credits and strong control of the sources of purchase.
She said the Finance Committee member Magda al-Tamimi, in an interview to the (long-Presse), “The parliamentary Finance Committee predicted a rise in the dollar’s exchange rate against the dinar, when identified ceiling 75 million dollars for the auction of the Central Bank, the General Budget Law,” noting that “the situation That paragraph was because the CBI sales were between $ 200 to $ 250 million a day, which led to the depletion of the country’s hard currency reserves and low of 77 to 67 billion dollars or less. ”
She Tamimi, that “the sale of such large amounts that do not correspond with the size of what is being imported to Iraq, reinforcing suspicions that there Operations money laundering carried out by certain parties, particularly the countries of the world in general and the neighborhood in particular, are not experiencing such auction, so it maintained the stability of exchange rates their currencies against the dollar, “unexpected” does not continue to rise in the dollar exchange rate and the possibility of a long decline natural to put it over the next few days. ”
And called for the central bank to “use the tools of monetary policy to control the market and miss an opportunity to traders and speculators.”
For his part, ruled economist Majid picture, to be Parliament’s decision is responsible for the rise in the dollar exchange rate, stressing that the central bank is able to ensure the stability of the market and re-dollar natural position, saying that “the House of Representatives decision to select the central bank sales of the dollar impact of the estimated directly in Significant market because auction sales rate of the currency during the past year in 2014, ranged from 140 to 150 million dollars a day, “returned to the” natural fluctuations in the dollar exchange rate against the dinar. ”
He said the picture in an interview for the “long”, that “the procedures adopted by the central bank to control the financial transfers, which will affect the market and tied the dollar exchange rate estimated lead to decline to normal,” unlikely “to be the parliament’s decision to cap the dollar selling is why height “. He explained economist, said: “Many factors influenced the dollar, including the security and political situation of the country, and economic instability, which led to an increase in asylum citizens and merchants for savings by the dollar, and thus its high price,” and expressed his belief that “the central bank is able to influence the market and contribute to stability. ”
In the same context, a financial expert count that the decision to determine the central bank sales of the roof of the dollar “would not be feasible,” and stressed that the best solution is to compensate the Iraqi dinar and the survival of the dollar sales of the same with the need to increase the appropriation and control of procurement sources and sealing them strongly.
Said Salah Abdul Rahman, in an interview to the (long-Presse), said that “the decline in world oil prices is responsible for the rise in the dollar exchange rate against the dinar,” noting that “the Iraqi citizen is worried about the future and the impact of that decline on the national economy, what caused them to save the dollar and increased demand for it. ”
Promised Abdel-Rahman, the “parliament’s decision to cap the dollar selling by the central bank, is the glory because it will restrict the monetary policy of the country because it depends on supply and demand,” pointing out that “the decision can not be sustained for a long time and will lead to a negative impact on the market, including buying and selling the dollar. ”
And saw a financial expert, that “the right solution lies compensate the Iraqi dinar and the survival of sales unchanged through increased appropriations and control procurement sources and sealing them strongly.”
It is noteworthy that year’s budget law for the current 2015, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents Data and settling accounts and tax savings customs within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the central bank law or instructions issued by him, and the use of other banking tools to maintain the strength of the dinar against the dollar.
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