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The government attributes the rise in the dollar to speculators and experts assert: Central wrong de

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dizzydee
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The government attributes the rise in the dollar to speculators and experts assert: Central wrong de

Post by dizzydee on Wed 25 Mar 2015, 10:47 am

25/03/2015

The government attributes the rise in the dollar to speculators and experts assert: Central wrong deal with the crisis

Baghdad - The Iraqi government confirmed on Wednesday, and the presence of stocks reserves of hard currency and not "fear" of the Iraqi currency deterioration against the US dollar, as showed that speculators raised a state of anxiety about the bank's reserves, the Parliamentary Finance Committee to the eye that the weakness of the financial policy of the country and control of traders Market of the main reasons that led to the rise of the dollar against the dinar.

He said the prime minister for economic affairs adviser appearance of Mohammed Saleh in an interview with the (long-Presse), "The central bank sales of the dollar was up to about 200 and 300 million dollars per day in order to maintain market and wasted dollar Finance Committee considered in the House of Representatives and in Article 50 of the budget to make the central bank sales of up to $ 75 million per day law. "

Saleh added, "but this amendment exploited by speculators and Mentfon provoked panic, and fear of the decline of bank sales and the weakness of its reserves of foreign currency as well as flooding the market with the import of goods is necessary, boosting demand for the dollar has increased and therefore the high price to sell," noting that "75 million dollars is sufficient to meet the needs So the market can not be hold responsible for central bank action rising dollar and neglect them. "

Economic Adviser to the Prime Minister, "There is no fear of the Iraqi currency deterioration against the dollar and continued because the central bank has sufficient and reassuring reserves of hard currency dependent on oil revenues," noting that "the coming days will witness a breakthrough to the crisis with the followers of the budget on the liquidity in the market and the size of the reserve policy and flow. "

For his part, said the Finance Committee in the House of Representatives member Haitham al-Jubouri, in an interview with the (long-Presse), "The weakness of the financial policy of the country and in particular monetary and fluctuating dollar exchange rate against the dinar, as well as control of the traders on the market of the main reasons that led to the rise of the dollar against the dinar ".


Jubouri said that "the Iraqi Central Bank made a serious mistake when inventory sell the currency on the government and private banks and banking offices, leaving traders to buy the currency on the black market because of their inability to wait to take their roles in the private banks or succumb to speculators because the market can not afford delay or borrow from others." .

Turn Committee member Magda al-Tamimi said in an interview with the (long-Presse), "The rise in the dollar exchange rate against the dinar, the case will not last long and will be gone soon, as the central bank promised that he was working on the mechanisms and procedures it is possible to reduce the selling price and make it available to adequately among citizens and merchants. "

For his part, the financial expert Majid picture in an interview with the (long-Presse), "The changes in commodity prices, today, in the Iraqi market is not the result of the change in the exchange rate for the dollar, but the result of the new indirect taxes any increase of customs tariffs, the merchant importer does not influenced by the exchange rate permanently. "

He criticized the picture "link banking companies of the Central Bank and receive a license to deal in obtaining and selling the dollar," stressing that "that is the wrong way because the internationally recognized is that the central bank only deal with the banks, so it maintained a presence with the bank has the wrong effect on the market."

The dollar price in the local market before the Iraqi dinar for up to 1130 selling price of the Iraqi dinar against the one after that 1120 was one of the dinar in the past month.

source

    Current date/time is Thu 08 Dec 2016, 11:50 pm