Najib: rising value of the dollar against the dinar goes back to the government crackdown
Najib: rising value of the dollar against the dinar goes back to the government crackdown and the new policy of the Central Bank
Direction Press / Private
Attributed by the Parliamentary Finance Committee on Friday reasons for the high value of the dollar against the dinar during the current period to the government crackdown and the policy of the central bank and the new adopted to reduce the sales of the dollar in the auction of foreign currency.
Najib During an interview with “The trend Press,” said that the requirement for the federal government to the Rafidain and Rasheed not to sell amounted to more than $ 75 million a day and lower the price of oil globally led to the increased demand for the dollar against the tight supply of it and thus resulted in this record high, indicating that This policy is wrong because it does not rely on the principle of balance in supply and demand operations to buy the dollar.
He added that the central bank’s new mechanism to obtain foreign currency, such as the person who purports to buy this currency request to the bank adopted a waiting period of 15 days to get the required amount, as well as to the Iraqi market used to put huge amounts of money at auction but now because of the financial conditions experienced by the country has been reduced these amounts, not to mention the financial speculation by foreign currency traders all of which led to the rise of the dollar.
The foreign exchange market has seen a rise Mlhaudha exchange rates against the Iraqi dinar, where the price jumped zero dollar against the dinar to 1227 dinars per dollar one.