Decline in the value of Iraqi dinar against the dollar markets, the Kurdistan

23/04/2012 17:00

Erbil, April 23 / ​​April (Rn) – refers jewelers and shop owners of banking in the province of Kurdistan, to the high price of gold and U.S. currency in the markets of the region, so that a negative impact on commercial activities. Markets for Iraq and the Kurdistan region, since a few weeks, fluctuated significantly in the value of U.S. currency and gold , which impact negatively on business events and cause in raising the price of materials.The deputy head of the union chapel Kurdistan, Bakr Muhammad, told the Kurdish news agency (Rn) that “the price Almthagal one of 21 carat gold arrived in the markets of the region to 298 thousand dinars.” and on the reasons for the high price of gold, he explained that “the reason is due to the high value of the dollar in the markets of Iraq, has caused this rise in reducing the proportion of the activities of buying and selling gold 50% compared to months past.” Mohamed said that “the problems and crises between Kurdistan and the Iraqi government not to ratify general budget of the province by the Parliament of Kurdistan, along with the appreciation of the U.S. dollar, all contributed to the weakening of market buy and sell gold, also affected the prices have gone up. ” The price of the dollar has experienced during the Alosaba recent notable gains until it reached to 132 thousand dinars for every 100 dollars, while the central bank set the exchange rate of 117 thousand dinars for every $ 100, an increase of 15 thousand Iraqi dinars.For his part, said Samir Messenger, owner of a franchise in the city of Arbil, (Rn) that “the value of the dinar against the Infkhadd against the dollar over time, The paper per class $ 100 is equal to 128 thousand and 500 dinars, “adding that” the prices are up and down within a few minutes only, ie that the value of the dinar is not fixed. ” The Finance Committee representative had warned earlier in the Secretariat The Council of Ministers of trying to dominate the monetary policy of the Central Bank of Iraq and minimize the powers of the central bank governor, noting that this was a violation of the constitution with the consequences of dangerous for the Iraqi economy. The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and management of reserves foreign currency and the organization of the banking sector.From: Muhammad Faryad, see: Ihsan Aervani