Flaming Iraqi dinar low market prices

Flaming Iraqi dinar low market prices

23/03/2015

With the low prices of the Iraqi dinar against the US dollar, has seen a marked deterioration of the Iraqi market in lower sales, where and to the extent of free wholesale market of shoppers and the stagnation of goods, especially since the Iraqi market relies on imported goods from abroad.
Over the past month, the Iraqi market has seen a gradual rise in the dollar’s exchange rate against the dinar, reached 130 thousand dinars per one hundred dollars, although its stability at 120 dinars per one hundred dollars in public banking offices during the past two years.

Contrary goldsmith: Iraqi market dependent on foreign goods (IRIN)
It is noteworthy that the official dollar exchange rate at the central bank differs from the price of banking offices, with a 116 thousand dinars per one hundred dollars, only to determine the sale of $ 75 million a day in the currency market by the central bank, after it was up to $ 250 million, contributed to an increase in demand.
Iraq presents -ovq Finance Committee Algnapeh- financial loss amounted to more than four billion dollars in the first two months of this year, due to the non-arrival of oil revenues on which increased by more than 90% to the planned figure in the budget year 2015, where production has not reached oil to three million barrels of oil per day, and only Iraq to export about two and a half million a day since the beginning of this year.
Illegal
complain citizen Nazim Samir, and works in a coffee shop, from a recent inability to buy some goods because of higher prices in the market, asking, “How will save the daily family needs under the flammable goods prices, and my salary is almost fills our needs and rent the house, what our situation if doubled prices? This is what many people expect. ”
And between the island revealed that with daily prejudice the lives of citizens goods prices have increased, as the price of card phone, which was priced at five thousand dinars (the equivalent of four dollars and a half dollar) to five dollars, in addition to higher prices for meat, canned food, vegetables and fruit products.
Recession
Meanwhile, Abu Ali -oho shop owner for Tsouk- wares suffering from recession, pointing out that most of the visitors to the shop began cutting back on their purchase of many materials, because of the high cost of their prices.
He adds the island revealed that traders in the market pretty Shorja in Baghdad, the two major wholesale markets, they raised the prices of their goods equivalent to adding a quarter of the value above the previous value, arguing Dollar rises against the dinar, “is why we have to raise our goods prices, and this has greatly impacted the liquidity of most shop owners. ”

Dergham Mohammed: Continued speculation in the market raises prices (IRIN)
For his part, attributed the economic expert contrary goldsmith rising prices of goods in the Iraqi market to its dependence on foreign goods, which are purchased in US dollars, and the imposition of taxes in the budget on the importation of certain goods.
Fabricated
and shows the jeweler of the island revealed that the decline in the value of the dinar against the dollar led to a tangible impact on the desire of traders to import goods from abroad, because in this case it would not be a profit as before.
Economic expert did not rule out the existence of “some traders weak people who Evtalon crisis to increase their profits.”
For his part, director of the Economic Media Center Dergham Mohammed warned of continued market speculators to raise prices, exploitation, including economic, political and security situation experienced by the country, calling for the controls to the importer and pricing of goods.
He -lldzerh Nt- the need to increase public production and private sectors in both sides of goods and services, in order to achieve financial abundance of physical and returns that fall in gross domestic product each year, and thus gives the ability of Iraq to be its financial resources through their own abilities, and not just relying on oil.

aljazeera.net