The fluctuation of the value of the Iraqi dinar is due to the effect of the brokers on the sale and purchase
Parliamentary Finance: the fluctuation of the value of the Iraqi dinar is due to the effect of the brokers on the sale and purchase of government dollar
Tuesday, 09 July / July 2013 08:35 | | |
{Baghdad: Euphrates News} attributed a member of the parliamentary Finance Committee fluctuation of the exchange rate of the Iraqi dinar against the dollar to the impact on the operations of brokers buy and sell the dollar at the central bank auction, stressing the need to take practical measures to reduce counterfeiting.
Witness the exchange rate of the Iraqi dinar against the U.S. dollar fluctuated between one period and another Economists attributed to many things is the instability of the central bank monetary policy and to the political differences that appear from time to time on the political scene.
He said MP Abdul-Hussein al-Yasiri told {Euphrates News} on Tuesday he was “supposed to be a fixed price for local currency بالاجنبية the discharge is determined by the central bank through an auction sale of currency.”
He pointed out that “the rise in the exchange rate as a result of the presence of two markets the first government and the other parallel to him which are handled through intermediaries and they had the effect of withdrawing the dollar amounts sold to influence the exchange rate.”
Yasiri stressed that “proper treatment would restore prices to the official price.”
The Council of Ministers decided on 16 of October of last year mandated Abdul Basit Turki for the management of the central bank rather than Shabibi that the Integrity Commission issued an order to arrest him, in addition to 16 other officials, including Deputy Governor appearance of Mohammed Saleh.
The decision came during the release of the report of the parliamentary committee formed by the House of Representatives headed by Qusay al-Suhail, first deputy speaker of parliament, led to the issuance of arrest warrants against a number of officials, including the Central Bank Governor Sinan Shabibi against the backdrop of corruption charges. And on the prevalence of counterfeiting in Iraq, said that “there is a proliferation of counterfeit currency have suggested that there should be address by the amount of exchange rates and currency restructuring so that the new edition will be difficult for counterfeiters.” Ended 2
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