Traders in the market complain of a new high for the exchange rate of the dollar against Iraqi dinar

Traders in the market complain of a new high for the exchange rate of the dollar against Iraqi dinar
Sunday, July 1, 2012 16:45

{Baghdad} Euphrates News report .. the Iraqi market has seen a substantial rise in the price of the dollar against the Iraqi dinar.

According to traders in the Iraqi market, spoke to the Euphrates News Agency {}, the Iraqi dinar exchange rate has plummeted against the U.S. dollar when the price of the dinar against the dollar 126 000 dinars per cent of the paper dollar after the class was not to exceed 123 000 dinars Faih percent of the paper dollars.

He attributed their decline at the Iraqi dinar to reduce the central bank to the size of what sells for a dollar for companies and traders in half, which impact negatively on the exchange rate are of the view, others that the cause of low exchange rate of the dinar because turnout of citizens for shopping on the occasion of the approaching holy month of Ramadan, where that most families began its acquisition of food received for the month of Ramadan.

He said Abu Mohammed’s shop franchise, “The exchange rate of the dinar against the dollar has dropped gradually and reached yesterday for the highest percentage of it and amounted to 127 to 128 thousand dinars for the paper category percent dollars, but he returned gradually to be 126 000, or 125.5 thousand dinars after the range of 122 to 123 thousand dinars.

He added that the reason is to reduce the size of central bank dollar selling to companies and traders, which has affected negatively on the Iraqi dinar.

In the eyes of Jassim Al Ameri shop owner among the markets these days are filled with citizens who Atdon for the month of Ramadan and most materials are rising and this of course is parallel with the high demand for the dollar, which is normal to see a rise in front of the dinar.

He said the aggrieved citizen is the largest in the rise of the dollar against the dinar because the majority of goods are rising higher than the dollar, as the majority of the traders to raise prices of goods more than commensurate with the price of the dollar for fear of it that the market is witnessing a rise could lead to a loss.

While still belonging to Salem Nasser said the government bears the bulk because the politicians indifferent to the citizen and are looking for chairs, while the poor citizen does not find anything to fill the breath of his family.

He said the Muslim world on the verge of the holy month of Ramadan, instead of having the government help the citizens in this holy month, we see that there are higher prices of materials that are supposed to buy the family.

In turn, sees economic analyst who declined to be named, said he is not reasonable to keep the government and the central bank to pump the dollar in the markets at subsidized prices in order to be maintained the exchange rate of the dinar.

He added that what we see that any delay affects the dollar, the pump prices go up and down the value of Iraqi dinar called on the government to find the correct monetary policy keeps the exchange rate of the dinar. Ended
Source: alforatnews