Abdul Hussein al-Yasiri: high exchange rate of the Iraqi dinar by the presence of Central Bank reserves
Abdul Hussein al-Yasiri: high exchange rate of the Iraqi dinar by the presence of Central Bank reserves
Date: Thursday, 14/06/2012 11:52
Baghdad (news) .. Ills member of the Finance Committee MP / National Alliance / Abdul-Hussein al-Yasiri, the high exchange rate of the Iraqi dinar against the U.S. dollar to the presence of central bank reserves.
Yasiri said (of the Agency news) on Thursday: The improvement of the power of the Iraqi economy and central bank reserves and the existence of the private sector private banks contributed to raise the exchange rate Iraqi dinar and the presence of the balance of payments positive, which shows some of the exports of foreign goods more than its imports all of these factors lead to higher exchange rate of the Iraqi dinar against the U.S. dollar. He Yasiri to: the existence of “critical theory” which states the general acceptance of the currency and the power of attraction in all countries such as the dollar, which has a acceptability all over the world, while the Iraqi dinar treat it only in Iraq, and continued: Demand If you find a dynamic price tag is determined by a dynamic supply and if there was a demand by the rising price of this cruise lead to increased rates of ill was local or foreign. He added that directed the Central Bank of the year (2003 -2004) to buy a paper currency of Iraq to reduce what is displayed in the Iraqi market and increase demand and push the dollar in the auction, the central bank and buy dollars in Iraqi local and even determine the exchange rate a thousand and six hundred dinars, and then thousand and five hundred of the dollar and the bank continued to sell the dollar in foreign currency of Iraq to raise the demand for the dinar to the lack of quality in the market and the price level declines against the dollar content more than the Iraqi dinar. And Yasiri: that Iraq has oil revenues in dollars of foreign Fbasttaath to make a thousand dinars dollar and can be withdrawn by the Iraqi currency and pumped the largest amount of dollars and reduce the width of the Iraqi currency will become more valued and all these factors lead to high exchange rate against the U.S. dollar Iraq. Finished / 21. for. m /
Source: ikhnews
