Central Bank: the devaluation of the dinar price bubble will be gone


Warned the Finance Committee in the Iraqi Council of Representatives of the seriousness of the continuing decline in the exchange rate of the dinar against the U.S. dollar, which arrived during the last few days of 1300 dinars to the dollar, for the first time in nearly four years. A member of the Finance Committee Haitham al-Jubouri that the committee follow with great concern the continuing decline of the value of Iraqi dinar against the dollar, noting that this decline will have… negative repercussions on the citizen, because it will lead to higher prices of goods and commodities, real estate and others. called Jubouri in his interview for Radio Free Iraq the central bank to the need to reconsider its policies of Finance, and not getting lost in the dealing with low value of the dinar, pointing at the same time the existence of “mafia” controlling the Iraqi dinar exchange rate rather than the central bank. called Jubouri the Iraqi Central Bank to increase the amount of foreign currency on the market rather than retained in the coffers of the bank, which caused the increase demand for the dollar and thus lower the value of Iraqi dinar. defended the Central Bank of Iraq for his part for its monetary policy followed by the past four months, and of reducing the sales of the dollar, for reasons he said were organizational. and reduced bank adviser appearance of Mohammed Saleh of the danger of depreciation of the Iraqi dinar against the dollar, adding that it bubbles forming will disappear gradually. Salih stressed that the central bank has reserves cover the value of the Iraqi currency in full, and can control the devaluation of the dinar in a few hours too, but he does not want to go this cash reserves into the pockets of speculators currency. He Saleh said the tough measures, taken by the central bank through daily auctions, held by the sale of the currency meant to know who the real work in the trade, and those trying to smuggle currency in the interest of outside parties. It is said that the Council of Ministers announced Wednesday (11 April) for the formation of a committee to study fluctuation of the Iraqi dinar exchange rate in recent times, to provide appropriate solutions and to prevent harm to the national economy.