Iraqi dinar recorded the largest decline against the dollar in two years
Iraqi dinar recorded the largest decline against the dollar in two years
Posted 14/05/2013 12:44 PM
BAGHDAD – “arenas of Liberation”
the price of the dollar in the domestic market to 1,300 Iraqi dinars per U.S. dollar, compared to 1220 dinars in the middle of last March, representing a significant decrease of the Iraqi dinar did not get more than two years ago.
It is known that the official price of the dollar to this day, according to quotations Central Bank of Iraq, is a 1166 dinars, and that means that the Iraqi dinar has انحفض price more than 11 percent.
According to shops selling the currency in Baghdad, and citizens, has led the decline to higher prices for a lot of goods in the markets, especially imported from abroad.
The central bank has promised to take measures to lift and install the Iraqi dinar as it was in the past, but the degradation rate of the dinar continued for up to 1,300 dinars per dollar.
complain employees and retirees who receive their salaries in dinars from the high cost of living and salaries are no longer enough to meet their needs and that the rise in prices has included real estate and rentals, as well as transportation, food and clothing.
, many believe that the growing appetite to buy the dollar has led to a significant drop in the price of the dinar. And attribute this to smuggle most of what offered by the central bank a day of dollars to Syria and Iran, which تخضعان to the siege of Mali and they need increasingly to hard currency.
announced the Central Bank of Iraq before Fenrh short new procedures limit the availability of the U.S. currency in markets where demand to buy them, amid suspicions suggest smuggling large amounts of hard currency in Iraq for neighboring countries.
issued the CBI, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar is estimated according to the capital of each of them, and we will increase and decrease the share compared to the commitment of all of them deliver the amounts they want customers from citizens.
goes observers exchange market in Iraq to the smuggling of large quantities of dollar located in Iraq for Syria and Iran, both of which suffered international sanctions caused scarcity of hard currency, and it has one of the most important reasons for the increase demand for the dollar Iraq, and therefore decline Iraqi dinar exchange rate.
and baptizing the central bank to put the dollar at an auction for the sale of foreign currency at subsidized prices and the lowest of the exchange rate real in the market to support the dinar. ”
and observers fear of stopping the CBI those auctions and then multiply the value of the dollar against the dinar ” .
According to the latest bulletin of the Central Bank for auction sale and purchase of foreign currency Monday May 13 the bank sold 223 million and 177 thousand dollars compared to 196 million and 704 thousand dollars on Sunday, a stable exchange rate was 1166 dinars per dollar.
facing the central bank charges to staff it in conjunction with officials in state corruption Baalmyat and smuggling of currency and the bank is currently undergoing to Thviqat the longer the former director Sinan al-Shabibi, who left Iraq several months ago and no longer fear of arrest according to the warrant.
altahreernews.com
