A slight rise in the price of the dinar exchange shops .. and refrain from selling the dollar
A slight rise in the price of the dinar exchange shops .. and refrain from selling the dollar
02/04/2015 (00:01 pm)
BAGHDAD / long-Presse
A number of owners and the offices of banking companies, on Tuesday, the high value of the Iraqi dinar slightly against the dollar after one day of a big drop is the first in many years, and as pointed out that the dollar exchange rate reached to 1240 Iraqi dinars, revealed their unwillingness to sell the dollar. “fear” of the heavy losses may occur to them if the fluctuation of the Iraqi dinar exchange rate continued.
He said Mohamed Salem, the owner of the Office of Foreign Exchange in the Karrada district in an interview with the (long-Presse) that “the price of the dollar against the Iraqi dinar rose again on Monday night, for up to 1280 dinars, causing large overwhelm in the Iraqi market, “noting that many of the offices and banking companies completely stopped buying and selling for fear of losses which may cause hours after the sudden rise.”
Salim said that “the Iraqi market is still experiencing confusion and volatility in spite of rise of the dinar exchange rate against the dollar slightly up to 1240 Iraqi dinars, “adding that” all employees in companies and banking offices are looking to their news stating a rise or fall of the Iraqi dinar against the US dollar to hear. ”
For his part, Ahmed Sami owner Challengers Exchange Company In an interview with the (long-Presse) that “the high and low price of the Iraqi dinar against the dollar was not expected because of the stability in the pricing of the dollar over the last two years.”
He added Sami “It’s hard to predict what will happen during the next few hours of the waves striking in high or low, I personally owe one of those reasons to the central bank, which has a hand in this volatility for not pumping hard currency to banks only in small quantities, noting that “the dollar exchange rate stood at today’s 1240 dinars, down from the exchange rate on Monday, which amounted to 1280 dinars.”
and the Sami that “His company stopped temporarily sell the dollar until the get stability in the dollar exchange rate against the dinar for fear of big losses you might get, if it continues to fluctuate Iraqi dinar exchange rate.”
witnessed companies and shops, banking in Baghdad, an apparent absence of Iraqi customers stagnant sales and buying foreign currency . Noted correspondents (long-Presse) in Baghdad and the provinces, the dollar exchange rate against the Iraqi dinar has risen repeatedly, on Monday, from 1240 to 1250 and then in 1280 the Iraqi dinar. ”
The Iraqi Central Bank to sell dollars to banks at a price of 1166 dinars.
The Economic Committee in the House of Representatives Iraq has been attributed, on the first Monday, the high dollar exchange rate of the dinar in the Iraqi market to the decisions taken by the Central Bank during the past few days to support the economic development that, while likely economist return of the dollar to normal rates through a simple period, attributing the reason for the rise to “a ripoff “banking offices to buy the dollar, as well as reducing the quantities sold by the central bank as recommended by the general budget.
It is noteworthy that the current year’s budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not more than 75 million dinars, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and otherwise apply the penalties stipulated in the central bank law or instructions issued by him, and the use of tools other banking to keep the strength of the dinar against the dollar.
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