Supply shortages and complicated procedures raised the value of the dollar
Supply shortages and complicated procedures raised the value of the dollar
5/15/2016 0:00
BAGHDAD – Imad emirate ,
said the economist, d. Awad Fadhil: Failure to satisfy the demand for foreign currency, reflecting the desire of Iraqis to cover Akiem imports or compactness or transfer capital abroad,
will remain closely characteristic of the Iraqi economy as long as the active feeding forces, which means continued pressure on the dinar toward him not to stability , if not to back down.
he said in an interview for »morning», that such a situation entails moving the market exchange rate (equilibrium) of the dollar to a higher level of nominal exchange rate desired officially, this also reflects the fact that the request of individuals, banks and Altjargar saturated currency foreign, and that any disability or lack of supply of which side pays the price of the dollar swap dinar to rise, any decline in the national currency exchange rate through the corrective role played by the forces of supply and demand for the currency.
He said, the monetary authority chose to fortify the currency exchange rate by imposing Administrative restrictions in the first months of 2012 on the terms of access to foreign currency, including , but not limited to , rules specify participation in the dollar daily auctions and determine the share of the weekly banks of foreign currency and the establishment of maximum limits on the transfer of funds abroad and sell at a fixed price by the government banks and the adoption of the commercial register of the buyer of foreign currency the end of the applicants.
among Fadel, to Angala as we say that fear of the Iraqi Central Bank stopped selling the dollar for regulatory purposes and the lack of supply of it because of the discretionary measures help push demand to its highest proportion to what is shown daily by the monetary authority and then what is being sold by the government and private banks licensed to sell.
He explained that the mere announcement of these measures is reflected in a perfect jumps in the dollar exchange rate supported by the Iraqi dinar in the free market, and this means increased demand for the dollar pressure then created virtually carry the show than with inability to generate display Mouawad in line with the demand for the US currency ‘s strength.
He concluded Fadel to say: that this analysis finds Kan in the total foreign currency value of sales in the first quarter and the second quarter in 2012 less Nspba than in the fourth quarter of 2011, and run all evidence observed the process that the steps of the monetary authority in the direction of administrative restrictions on the sale of the dollar in the third quarter of 2012, accompanied by a relative improvement in the exchange rate of the dinar to the dollar in the free market price, and this confirms the correlation between the means of restricting foreign currency supply and the development of the dollar exchange rate against the dinar.
alsabaah.iq
