Specialists warn of continued volatility in the local currency against foreign currency, high inflation rates in the country
Posted by: citizen newspaper
After penetrating the US dollar for domestic market and rising against the Iraqi dinar and the volatility of the local currency in spite of all action taken by the Central Bank to reduce the Iraqi dinar rose, specialists agreed that the volatility of the local currency against foreign currency caused high inflation in the country.
The Director of the Association of private banks Abdul Aziz Hassoun, stressed during a recent newspaper (national news).The foreign exchange trading volume compared to withdraw Iraqi dinar led to high inflation in Iraq said Hassoun (citizen)» Central Bank auction of foreign currency, led to great criticism movement produced by the inflation caused by large cash farm for a few to benefit the national economy ".
And the Director of the Association of private banks said that "all the indicators confirm the low inflation in Iraq are speculative and have no validity, if that, the Iraqi dinar exchange rate fluctuations as evidence of rising inflation in the country.
Expert in economic peace, by taking advantage of her newspaper (national news).
The Iraqi dinar exchange rate fluctuations led to the formation of two inflation, force first drove up the prices of goods and commodities in the domestic market as the second force pushed traders to pull large amounts of local currency for amounts more than the dollar.
He added that "increased demand for local currency to raise prices of goods and commodities that affected ordinary citizens who will be twice the price.
It will be the citizen's pressure merchants in pressures for greater quantities of dollars and other pressure on processors must receive greater amounts of Iraqi currency with a result depreciation of the Iraqi dinar against the dollar for dollar and the final consumer, the average citizen is who pays the price ".
Meanwhile, Advisor to the North Bank for finance and investment, Elias Abou Nafeh, speaking to the newspaper (national news).» Dollar to dinar local currency volatility led to increased prices of imported goods that are resident in foreign currency ".
He said Abbou (national news).» Dollar l.d reflected negatively on the structure of the price of imported goods, which has led to high rates of inflation significantly.
Abou said that» the Iraqi currency exchange rate fluctuation and instability has led to the creation of significant inflation factor large cash currency bloc without any charge paid for ordinary citizens ".
Ministry of planning and development cooperation, a reduction in the inflation index for the month of June at a rate of 1% and an annual rise of 2 percent, with the price in the Kurdistan region has been falling during the last June by 0.7%. , These indicators are speculative and not fact./finished indicator