Parliamentary Finance: Issue 50 categories and 100 000 dinars than reducing demand for the dollar
Parliamentary Finance: Issue 50 categories and 100 000 dinars than reducing demand for the dollar
Posted, 06.07.2015 nine fifty-five
[Baghdad-where]
attributed the parliamentary Finance Committee member to the Central Bank of Iraq’s determination currency categories of 50 000 dinars and 100 000 dinars to reduce the demand for the dollar version.
Said Jabbar al-Abadi told all of Iraq [where] that “the Central Bank is moving to issue currency worth 50 000 dinars and 100 thousand dinars and purpose to reduce the demand for the dollar and foreign currency because we observed a steady rise in the foreign exchange rates against the Iraqi dinar.”
He pointed out that “the date of launch these two currencies in the markets is a matter of art back to the Central Bank. ”
The sources in the Iraqi Central Bank revealed the intention of the bank paper currency a new category of 50 thousand dinars and 100 000 dinars raised to reduce the control of the dollar on the business dealings, and meet the new currency market needs of cash Categories large, equivalent to about $ 100.
For his part, the economic expert contrary goldsmith issuance of these two categories as “unfortunate step”, noting that “they will not Tqlla of demand for the dollar in the domestic market because the size of the issuance of this bulletin will cost the state treasury large sums of money in light of the financial crisis experienced by the country as well as the intention of the bank to delete the zeros of the Iraqi operation, which means the destruction of these two categories in the near future “. On he said.
He noted jeweler that “this step has some pros on the trading volume of paper and reduce the money supply in the domestic commercial circulation, but it It will not obviate the need for the dollar to the lack of adequate safeguards in the Iraqi dinar against other currencies on the domestic level, as well as the need for merchants to buy goods in dollars from abroad, “.anthy 2
alliraqnews.com
