Traders: the volatility of the price of the dollar intimidated .. Flaming market
Traders: the volatility of the price of the dollar intimidated .. Flaming market
04/08/2013 (00:01 pm)
BAGHDAD / tributary cactus
See bankers that the fluctuation of the dollar exchange rate loses confidence among dealers in hard currency, although the price decline during this period, but he was still unstable fixed price, warned against a competent economic affairs of this volatility continued as a result of mistrust policies of the Central Bank of Iraq and the worsening political crisis in the country, while the parliamentary economic attributed rising commodity prices in the local markets to the instability of the exchange rate of the dollar.
And witnessing the dollar exchange rate and since the change of crew CBI fluctuation clear distinction between high and low.
says company owner banking Mustafa Ramahi, said that “volatility dollar exchange rate intimidated and makes our work is balanced so that it forces us not to deal with traders credibility full, considering actions recent government to maintain the exchange rate is not successful.
adds Ramahi in his speech for the “long”, that “the actions the government very shy, central bank does not act in a market economy currency, adding that we need to prudent management of the financial sector and monetary promote the country’s economy and invest out of the country from Chapter VII which would revive the Iraqi economy.
part, explains Merchant comprehensive Hussein, said that “political infighting is one of the most important reasons for this volatility political situation in the country today is limping, which would affect the price volatility.
says Hussein “long”, presumably on the Iraqi government to working hard to stabilize the exchange rate of the dollar through the imposition of sanctions on institutions that manipulate prices, noting that the central bank did not succeed in the calculation of the exchange rate properly in accordance with the preparation of the U.S. currency they wish to sell.
adds, that the open ports more for the sale of hard currency in the country would help in constant currency
to that warned economic expert Majid picture specialist of the continued fluctuation of the Iraqi dinar against foreign currency as a result of mistrust policies of the Central Bank of Iraq and the worsening political crisis in the country, as called for retrieval of trust between the banking sector and public sector.
said Suri in a press statement, said the bank Rashid and Rafidain government they can not control the exchange rate of the Iraqi dinar against the U.S. dollar for many reasons, “adding that” fluctuation of the exchange rate of the local currency is directly related to a lack of confidence and economic shocks suffered by Iraq recently, as well as the need for the local market and private banks to hard currency. ”
and the figurehead that “the decline in rates stabilize the Iraqi dinar lies in the political interference in the political central bank and currency market as well as the political crisis worsening and the control of mafias big in buying and selling the currency of the central bank auction,” adding that “there are closely related in Iraq between the capital market and political crises and the security situation. ”
said Suri that “Iraq is a political crisis stifling years ago, as well as the central bank is suffering from a lack of confidence in the currency market because of political interference and the dismissal of Shabibi bank governor and former suspicions of financial corruption raised some time ago.”
and called Suri to “revive the confidence between the financial sector and public sectors, which is the only solution to stabilize the market, the local currency in Iraq, as well as go to market mechanisms money modern and opening up more to the private sector.”
This has been attributed Finance Committee parliamentary fluctuating exchange rate of the Iraqi dinar against the dollar to the effect of mediators on the operations of buying and selling the dollar in the central bank auction.
For his part, attributed the decision to the Committee on the economy and investment Kurdistan Alliance MP Mahma Khalil, rising food prices and commodities fabricated to the failure of the government and the central bank and regulators ‘present and absent.’
Khalil said that rising prices goods and materials a significant rise recorded a negative impact on the government, the executive and supervisory, stressing that his committee always appeals and demands up to this phenomenon, but to no avail and ‘no life for those who advocate’ as he put it.
added: Some market traders take advantage of the month of Ramadan and the feast to raise the prices of both food or other items, stressing that his committee demanded that the Ministry of Commerce to fulfill its promises and distribution of additional stake in the month of Ramadan and monitors the distribution operations.
said he was demanding the central bank that injects a large amount of dollars to keep the price of the Iraqi dinar in the market, expressing regret that this problem we are suffering every year and no signs of resolution
and expressed Khalil was surprised: that after the withdrawal of Iraq from Chapter VII and the arrival of balance sovereign Iraq’s $ 76 billion, but the dollar exchange rate exceeded the (1250) dinars or more days in normal, adding that this thing is not acceptable and the failure of another political central bank.
was the Federal Cabinet decided on 16 of October of last year mandated Abdul Basit Turki for the management of the central bank rather than Shabibi, who issued the Integrity Commission ordered his arrest in addition to 16 other officials, including Deputy Governor appearance of Mohammed Saleh on various charges.
almadapaper.net
