Central Bank failure to maintain the value of the Iraqi dinar

Central Bank failure to maintain the value of the Iraqi dinar

10:51 08/23/2013
Follow-up – and babysit – described the political parliamentary economic committee the central bank to maintain the Iraqi dinar against foreign currencies as “failed. ” The central bank has promised to take measures to raise and stabilize the price of the Iraqi dinar, as it was in the past, but the impairment and the exchange rate of the dinar continues.
He said the Commission’s decision Mahma Khalil said “the central bank demands to maintain the exchange rate of the Iraqi dinar, and determine a fixed price against the foreign currencies, as may or unreasonable that there is a balance of a sovereign Iraqi exceed seventy billion dollars, and it remains the Iraqi dinar rate over 1200mm] dinars to the dollar, and sometimes brings about this price on the black market. ”
He added that “the policy of the central bank failed to maintain the exchange rate of the Iraqi dinar against a basket of foreign currencies. ”
The Khalil said that “the exchange rate of the dollar against the dinar depends on several things, including Balance Iraqi sovereign of the dollar, and there are reasons not directly affected by the value of the dinar up and down, climate-related Iraqi politician who became طاردا of foreign currency and is not attractive to them. ”
“As the government interventions in the political bank, in addition to the desire and the seriousness of citizens to transfer حوالاتهم and deposits of Finance to hard currency and not deposited in banks of Iraq is part of the reasons led to the fluctuation of the dinar against the dollar, there are also reasons to indirect secondary, including international sanctions on Syria and Iran, and the fact that the Iraqi trader merchant pivotal trying to deal with all the nations of the world to the dollar. ”
And the decision of the Economic Commission said, “What distracted today dollar of deposits is not the real size of the Iraqi market needs. ”
Observers believe Economists and analysts said the increased turnout to buy the dollar has led to a significant drop in the price of the dinar, and attribute this to smuggle most of it will offer daily Central Bank of dollars abroad.
M. J