Concern about the deterioration of the price of the Iraqi dinar suspended dollar auction

Concern about the deterioration of the price of the Iraqi dinar suspended dollar auction

03/10/2015 16:37

Concern about the deterioration of the price of the Iraqi dinar suspended dollar auctionIraqi market affected quickly stop the central bank’s decision to auction born …
Affected by the Iraqi market quickly the government’s decision that halted the central bank auction of dollars – and that is the dollar offer for sale- which led to the rise of the dollar exchange rate against the Iraqi dinar to reach the money changers to 1,260 dinars, sparking criticism from experts saw this procedure error, and called to follow swift action to control the deterioration rate of the Iraqi dinar. Ahmed says Nasraoui -oho shop owner phones Jawalh- The rise in the dollar price quickly reflected negatively on the prices of commodities in general, adding that it has reduced the proportion of sales and gig buyers and shoppers. He Nasraoui At interview the island Nt- that the continued rise in the dollar exchange rate will affect the movement of the market, and that the Iraqi people basically afraid of reducing the budget for the current year and their impact on the living situation, and came dollar crisis to increase the fears and become a factor of concern for the market. The head of the Economic Media Center lion Muhammad Ali’s experience Central Bank of the dollar auction was the necessity imposed by Iraq’s economic conditions to maintain the stability of the currency exchange rate, pointing to the success of this experiment, confirming that could end the auction if they were to find alternative mechanisms and the distribution of the roles of the central bank to private and public banks. two sparrows and explained that the central bank kill two birds with one stone, one side of the difficulty and effort and legal responsibility for himself, on the other hand provided support to banks through referral transfers to and allocate the necessary funds for it, which makes them legally responsible for the funds transferred. For his part, the economic expert on behalf of Jamil Antoine said that the Stop Auction Currency reflected negatively on the Iraqi dinar, with diminished supply of the dollar in the local market and increased demand for it, prompting speculators to manipulate prices currencies. said Antoine Addressing this rise is to pump large amounts of dollar in the local market, calling on the central bank to pump large amounts from the dollar to control the price and create a balance in the domestic market. However, the adviser to Prime Minister for Economic Affairs and economist Iraqi appearance of Dr. Mohammed Saleh, denied what he said some officials who indicated that the central bank actions are the cause of rising prices of the dollar against the dinar, stressing that the action Central Bank essentially is immunization of the process of selling the currency action, and it aims to not wasting the currency for the time being, especially that Iraq suffers from a significant financial hardship. oil Saleh said that the rise in the dollar came against the backdrop of lower oil prices in the international oil market, though most of Iraq’s imports Finance comes from oil, and the hard currency comes with oil revenues, adding that the Ministry of Finance turned half of the oil revenues to $ reserve her and respond to crises. Saleh added that Iraq does not have an economic resource is oil gets on the dollar through it, it does not issue a goods and materials The goods out of Iraq, nor reap from religious tourism or general tourism hard currency for the lack of attention, not the customs applied to goods imported properly. downplayed Mohammed Saleh from the impact of rising dollar against the Iraqi dinar returned it as “simple” as described and is influential in the market local. He stressed that the new central bank action came to fortify the dollar selling process and not stop the auction finally currency, pointing out that the Iraqi dinar completely covered in foreign currency, and there are no fears of a weak Iraq reserves of hard currency, at least in the foreseeable future. for (Al-Jazeera)

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