Dollar continues to climb against the Iraqi dinar amid shy
Dollar continues to climb against the Iraqi dinar amid shy
03/31/2013 (00:01 pm)
Baghdad / Adel Saffar
Attributed Financial experts reason the continuous rise of the exchange rate of the dollar against the Iraqi dinar in the local bourse to increase demand for the dollar in light of the collapse of currencies Syria, Iran and Iraq’s dependence on imported products as a result of the absence of government support for local industries in the country.
exceeded rising dollar per 1225 thousand Iraqi dinars, while the price of dollar against the dinar 1180 thousand dinars for some time.
economist said Bassem Jamil Anton: “What is witnessing the Iraqi dinar exchange rate of decline its value against the dollar during the current period, as a result of actions the central bank for the sale of hard currency, as increased demand for the dollar,” noting that “Iraqi dinar powered dollars from the central bank and while demand is more than expected lead to lower prices for the currency.
added Anton of how “that” the main reason the other is intense pressure by neighboring countries as a result of what ails these countries from economic crises sharply due to the economic blockade imposed by , where there are reports of the existence of smuggling of foreign currency out of the country.
promised the country’s dependence on imports to meet the basic needs of consumption in all economic fields of agricultural, industrial and other reason the decline in value of the dinar, noting that the volume of imports in the last year exceeded $ 60 billion.
For his part, explained the economic expert Majid picture that there are attempts by the Iraqi Central Bank to resolve the problem of volatility of the local currency.
said Suri of the range: “There is pressure strong by Iran and Syria over the withdrawal of foreign currency out of the country, these countries rely on the Iraqi economy being exposed to economic crises large.
it likely Deputy Finance Committee Chairman MP Ahmed Faizullah, the return of Iraqi dinar exchange rate to the price of natural versus the U.S. dollar, the requirement to take the central bank procedures necessary and the use of international expertise to support the national currency.
said Faizullah “of the Agency news” that “The country suffers from a floundering his policy monetary and economic, as the money going out of the country to import more of the funds that come to the country from oil sales, etc., in addition to that there are other money wasted in various ways. added that the central bank must take its measures necessary to recover the value of the Iraqi dinar to price natural versus the U.S. dollar, and must use international expertise, and benefit from the recommendations of the International Monetary Fund to support the national currency by paying citizens to convert their money into dollars, making there is a growing demand in the market for the dollar without the Iraqi dinar.
Meanwhile attributed rapporteur of the committee of economy and investment parliamentary Mahma Khalil, reasons for the low exchange rate of the Iraqi dinar against the U.S. dollar to the political problems in the country and the deterioration of currencies Iran and Syria against international currencies.
Khalil said in a press statement that “the UN sanctions imposed on Iran and Syria led to a decrease Altoman Iranian and Syrian pound against the U.S. dollar, what make Iran and Syria in dire need of hard currency.
added that “Iraqi trader is a trader pivotal and the import of goods without restrictions prevent, reverse McCann in the former regime, which has become a close relationship between the Iraqi traders and merchants neighboring countries who through them can be issued foreign currency to the states of Iran and Syria.
pointed out that the “political and security problems that plague Iraq also contributed to reducing the value of the dinar against the U.S. dollar by paying citizens to convert their money into dollars, making there is a growing demand in the market for dollar without the Iraqi dinar.
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