Exposed to the local currency float “,” economic sanctions pushed Syria and Iran to buy dollars from Ala
Exposed to the local currency float “,” economic sanctions pushed Syria and Iran to buy dollars from Ala
On: Sun 02/12/2012 15:07
Citizen / special / Sarah al-Obeidi landing a sudden and unprecedented rate Altoman Iranian currency Alsoeria (pound) against foreign currencies, especially Ataralammeraki, led to the influx of thousands of Syrians and Iranians to Iraq to buy U.S. currency and sell it in the inside Iran and Syria, in order to obtain a profit on the black market which became the first reference for the pricing of currencies of two countries against foreign currency, all of this came one result, which float the currency in neighboring countries, a result of exposure to the economic sanctions (Al citizen) had a stand with a number of specialists in economic affairs and was the first speaker. member of the Economic Commission Abdul Hadi Hassani, known as “floating the currency, as the economic mechanism, based on making the exchange rate of the local currency against other currencies, floating on the waves of fluctuations in supply and demand in the market. He said Hassani,” that the protection of the money Iraq are the responsibility of the state as the financial sector He must cooperate with the State to prevent the smuggling of Iraqi funds in this direction. He stressed: “that the process of buying the dollar in Iraq will show the currency to an imbalance in supply and demand, leading to the loss of the Iraqi dinar against the dollar and Iraq he has to protect his money from this collapse. He continued: “The floating currency in the country to be a realistic result of non-completion of services, financial, banking and banking to enable the bank to protect its currency is required in the float. and Hassani in his interview with the (newspaper Citizen):” The supply and demand in the Iraqi currency did not put him Mússat warm-up is required, He should float will show the currency to the request, leading to weakness or collapse of the Iraqi currency is the dinar, because the non-completion of the reality of the financial sector in the dimensions of banking and banking makes things not going in the course proper. In contrast, talked some sites that traders Iraqis are now buying the dollar from the bank CBI to be smuggled into Syria and Iran, which are subject to ban international economic order. and quoting Iraqi sources that many of the Iranians and the Syrians poured into the Iraqi border to buy the dollar, which has taken to appreciate against the Iranian currency and Alsoeria in the last few weeks. They said: ‘that the offices of exchange and encounter in the last few days high demand for dollar in the areas located on the border with Iran and Syria, which is the crossing trade and tourism between the two neighbors. In a related development stressed the president of the Iraqi industries Abdul Hussein al-Shammari, “not to the presence or hypotheses to float the currency in Iraq for the central bank’s ability to control the The local currency of the country. alluding to (newspaper Citizen) “: that the floating currency becomes when the security situation in the countries moving towards instability and in this case, the state or the economy vulnerable to collapse a large, compelling the state or the central bank to float the currency, referred to that there is are two ways to determine the price of the first currency “leaves the exchange rate of the currency to market forces of supply and demand and the effects of economic, without any government intervention to influence the price, and the second” the intervention of the government to specify the currency by linking them to one of the currencies of leadership, such as the dollar and the euro, and, if linked to a country’s currency the currency of leadership, be agreed on the price of the currency against the currency of leadership. this comes the process of floating the currency “: through the pressure of continuous international financial institutions, particularly the World Bank and International Monetary Fund in order to launch the exchange rate, subject to the equation of supply and demand in the market, and the decision to float a drug the last which forced governments and states for the tonic after a debate full of traction and pull with those institutions, organizations and bodies to end up float full of their national currencies and leave the determination of the mechanisms of the market and move towards completion of its economic reform and bear all consequences and costs and to fulfill their pledges of Foreign Affairs and its commitment to the mechanisms of the open market and the integration of the local economy in regional and global economy and the preparation of the enabling environment to attract capital and investments to them.