Parliamentary Committee: rising demand on the Iraqi dinar

Parliamentary Committee: rising demand on the Iraqi dinar

Written by Ammar Al shaikhli
Posted in First Monday, July 22, 2013 03: 30


Baghdad (Iraq)-Hala Khalid

Regionwide forecast continued low US dollar to Iraqi dinar to less the (1200) for the next few days, the price of gold grain to 215 thousand dinars after days of decline to 225,000 of the weight.

And correspondent «future» «banking offices buy and sell hard currency and US dollars yesterday witnessed a slight decrease on the buying and selling rates of foreign currency to the US dollar by a reduction of $ 100, bringing the price for sale US $ 100 to 120 thousand dinars, while the purchase price to 119 dinars in most areas of Baghdad and the capital's civil banks». But he said Economic Committee member MP Khalil mehma low US dollar in the market due to the growing demand for Iraqi dinar after the lifting of Iraq from Chapter VII and international sanctions.

Khalil said «the future» «we called as Economic Committee the Central Bank pumped large amounts of u.s. dollars to control the price of buying and selling the dollar now and a bit of stability in exchange rates, as well as activating the role of the Inspectorate of Commerce to control market prices, especially during the days of Ramadan».

Khalil asked to speed up the restructuring of the Iraqi currency dinar and foreign currencies to maintain the dinar prices against other currencies, indicating that the period ahead will be to maintain the exchange rate of the US dollar, a slight variation on the buy and sell prices.

In turn, economic analyst Mohammed Al-Anbuge attributed the continuing decline of the US dollar exchange rate for the Iraqi dinar to the wrong policies pursued by the Government and the Central Bank's lack of control over the exchange rates of hard currencies. He said Al-Anbuge to «future» the instability of the exchange rate of the US dollar would cause economic disaster to the Iraqi market for the next few days if the low exchange rates of the dollar and foreign currency.

The price fell the weight of gold and jewellery and gold jewellery market in the capital Baghdad on Tuesday, bringing the price of the weight in the sale to 215 thousand dinar amid significant turnout of citizens to buy quantities of gold investors a lower price.

Several shopkeepers in Baghdad gold jewelry for «future» buying and selling prices of gold across metropolitan areas declined significantly without knowing the real reasons behind the decline in the gold price.

Shop owners predicted continuing low prices for buying and selling gold for the next few weeks to a few levels too low in the Centre of buying and selling currency prices. He was an economist has assured «future» last week that low gold prices in Iraq returns to ask some global gold-producing States of the World Gold market for sale and speculation which affected all the gold in the world.

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