A new plan will be developed to keep the Iraqi dinar exchange rate against the dollar
The solution –
Announced by the Finance Committee MP for the National Alliance Faleh applicable, a plan to keep the Iraqi dinar exchange rate, reference the reasons for the increased demand for the dollar during the last period to the international economic sanctions imposed on Iran and Syria.
and said in effect that ‘there are many factors that made the U.S. dollar exchange rate getting in front of the dinar, which increased government spending and generated by the increase in the budget year, and exposure of Iran and Syria to the UN economic sanctions make them desperate need of dollars.
The member of the National told the solution (News) that ‘the economic embargo imposed on Iran and Syria, after a lot on the stability of dinar exchange rate they come either to buy dollars directly from the market or import of goods from the Iraqi market, such as materials of construction or industrial, which make the Iraqi trader accepts to buy dollars for import of goods once again, increasing the demand for it.
He said in effect that ‘the central bank has a plan to preserve the value of the currency include the continuation of Iraq’s sale of hard currency in the auction as well as opening many outlets to sell the dollar, both in government and private banks or other outlets are permitted, with the increase in the amount of currency sold under certain conditions to create a volumetric balance between supply and demand.