Speculators trading in the passport and behind the rise in the dollar exchange rate

Speculators trading in the passport and behind the rise in the dollar exchange rate

The time on Wednesday, April 10 / April 2013 08:07 | |

Dollar, Iraqi dinar exchange ratesBaghdad / Ahmed Yassin

Economists attributed the Financial experts higher dollar prices in the local markets of the last days of speculation and trading operations buying and selling foreign currency from the central bank outlets, in addition to the World Bank failed to control the rise in the U.S. dollar exchange rate.

The official source in Baghdad Chamber of Commerce that measures the central bank that allowed sell 5 thousand dollars to holders of passport caused the emergence of trading large many destinations even became directorates passports Moktdh citizens who wish to issue passports to buy dollars from outlets banks and the Central Bank. The source added that these actions are wrong and must be addressed immediately by the central bank to prevent trading in hard currency currently taking place in the market by selling in the market and collect the profits through these processes in the buying and selling of the dollar.

For his part, an economist Kamal al-Saffar that the main reason for the rise in the exchange rates of the dollar for the past two days and volatility due to financial speculation that occurred as a result of the sale of hard currency for each of the bear without the prior study.

Saffar said the central bank’s measures contained on the circumstances of the complex through the intervention of various destinations randomly which is not true and it was supposed to form economic commissions specialized in this regard and make accurate decisions.

He reported Saffar said trading operations, interests and achieve profits surrounding operations the central bank to sell the dollar through the achievement of differences in prices, and does not want to transfer money became being these processes to achieve quick profit What is the effect on the dollar market and currency exchange rates difficult and volatile exchange rate between high and low amid demand abnormal on the dollar without a real need and wrong without management study by the Central Bank’s stakeholders enable destinations is competent to hold foreign currency speculation, which wasted without deep thought.