Specialists warn of a continuing rise in the dollar and claim to control it
Specialists warn of a continuing rise in the dollar and claim to control it
09/18/2016
BAGHDAD / JD / .. warned a number of specialists in the financial regard by the continued rise in the dollar exchange rate against the dinar, which would considerably damage the local currency, calling on the central bank to putting in place mechanisms to control it.
The dollar exchange rate has reached during the days of Eid al-Adha 1300 dinars to the dollar.
He says a member of the Finance Committee MP Ahmed Rashid, the supply and demand controls the price of the dollar, adding that the past few days have seen an increasing demand to buy dollars, raising its price in the market.
He said Rashid told / KD / that in the holiday seasons and events abound travel cases abroad, tourism at home which increases the demand for the dollar as well as the central bank reduced the sales of the dollar in the auction.
He noted that the central bank put an end to the rise in the dollar so that it is brought under control and return to the real price, ruling that a central deliberate high dollar because he Aasb the interests of the local currency and the national economy.
For his part, said committee member Sirhan Ahmed, said that “the central bank has no plans to raise the value of the dinar against the dollar,” pointing out that “the rise of the dinar rate depends on the central bank’s reserves of hard currency and the non-oil and oil revenues coming into the country.”
He said Ahmed told / KD / “The legislative track and other issues have an impact on the exchange rate, which calls for preservation of the Iraqi dinar exchange rate and maintain a reserve of hard currency.”
Iraqi dinar exchange prices are volatile and clear in terms of the market is witnessing a gradual rise of the dollar against the dinar.
He criticized a number of financial and political economists pursued by the Central Bank of Iraq and falling cash reserves during the recent years.
And saw the foreign exchange markets in Iraq, last Friday morning, up to the price of the dollar against the Iraqi dinar.
And record market price in exchange struggle in Baghdad at half past nine in the morning in 1295 dinars to the dollar.
The buying and selling of the dollar in the prices of banking companies were:
The sale price of the dollar to 1300 dinars, ie 130 000 dinars, for a hundred dollars.
The purchase price of the dollar to 1290 dinars, ie 129 000 dinars, for a hundred dollars.
The Central Bank of Iraq, it may face in the 16 of last June to reduce the amount of foreign selling of US dollar currency for those wishing to travel outside the country.
He informed the bank said in a statement approved banks and all money transfer companies, broker for the sale and purchase of foreign currencies all, “the sale of the amount of 3000 dollars instead of 5000 dollars for citizens wishing to obtain a dollar to cover their expenses abroad after the completion of all the required documents under the regulations in force.” ended / 8 /
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