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The rise in the dollar to affect dealers succeeds economically crippling market stagnation


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The rise in the dollar to affect dealers succeeds economically crippling market stagnation

Post by Hkp1 on Sun 12 May 2013, 2:26 am


The rise in the dollar to affect dealers succeeds economically crippling market stagnation

Baghdad/Bayou Eggplant and Adel saffar

markets recently saw economic stagnation coincided with the continued
rise in the dollar and shopkeepers on the dissatisfaction with the
currency fluctuations, stressing that this fluctuation was overshadowed
by smooth on the market.

Salman says his company is banking to
Steve, "the volatile dinar exchange rate against other currencies to
make it flow a little ' market and trader of the process of buying and
selling", pointing out that the political decision at this time became
the controlling the economy particularly in the dinar exchange rate.

his part, refers teammate Safaa Hashim to the high exchange rate of the
dollar and the decline does not serve the holders of banking companies
market their work differs from small We buy large dollar morning and
sell in the afternoon between these watches find there are few volatile

said Hashim in an interview (range) that the heavy demand for food in
this period contributed to this التخلخل in the estimates of the Central
Bank of proportion Seen dollar in the Iraqi market.

To the reduced
Mohammed Attar, owner of sand for the banking and financial transfer of
the importance of the impact of price fluctuations on the deterioration
of work
in banking offices because large companies depend directly on the staff
of the private sector companies deployed in the capital, which depends
paid in dollars instead of the dinar.

adds Attar (range) I do not think the rise of the dollar against the
Iraqi dinar affects the buying and selling rate, especially that banking
companies linked to government and banks have ratios of the value of
the dollar that goes to the bank. Shows that "some small banking companies working wage or daily interest because he does not know at tomorrow."

asked Falah Hassan owner markets peace commercial what is going on from
the recession in the economy and a decline in the local currency with a
scarcity of certain materials needed by the citizens. Says in his
speech to the "Iraq is a country rich in wealth and issued a lot of oil,
why go down our currency whereas countries such as Jordan where there
are no riches and a strong currency and maintain stability. "

makes Tiger today did not exist at the time of the previous Bank
Governor Sinan Al-Shabibi, there was movement in the market and
stabilize the local currency. The State control on currency in
accordance with the policy which is trouble for citizens and merchants
together under the rising dollar and falling local currency.

"There are products we buy them in dinars and now refuse to sell US dollar as the only products.

the meantime the market researcher says Salem Al-Bayati "supports the
evolution and movement of markets based on economic stability in the
country with an economic policy and financial policy governing the
movement of sectors.

Adds to the range "with the unstable
security situation in the presence of an integrated policy and without
activating the services sectors, particularly agriculture and industry,
the country's economy are often exposed to a lot of problems and
challenges and weaknesses in the market accompanied by fluctuations in
the dollar", "the absence of a local producer markets will confuse the
economic scene is the purchasing power," indicating that the dollar's
rise is the result of the lack of a policy where the emergence of money

Economics professor finds tributary Noman hands
control the exchange rate and give an opportunity for dealers to
manipulation. In an interview, said the range: the problems faced by the
Central Bank recently affected the stability of the exchange rate,
noting that many applicants in the State concerned had a hand in
controlling the exchange rates which gave an opportunity for
manipulation by dealers in buying and selling dollars to control the
exchange rate. Asserting that this topic will remain valid if no orderly
market and official exchange offices in Baghdad and other provinces
with a security control.

MP Kazem said shammari, spokesman white
block earlier that international reports confirm that Iraq has none of
the huge budget for this year, but no certificate revenue from oil sales
to the Development Fund for Iraq of the International Monetary Fund.

said in a statement quoted in "the economy of Iraq suffering from sharp
fluctuations in the exchange rate of the Iraqi dinar has lost about $ 3
billion in just two months last year. Noting that some quarters in the
Iraqi Government seeks to benefit from surplus oil revenues to maximize
their assets abroad while the Finance Committee has confirmed it will
host Governor of the Central Bank agency to discuss the ramifications of
the high exchange rate and identify its causes.

The Committee
Member said Secretary Hadi (sourcing Centre for the Iraqi media network)
that the Finance Committee will add Central Bank Governor Abdel Basset
Turki Agency to find out the causes of the high exchange rate compared
to the past few months which has seen stable. "

He said Hadi that "initial indications of the reasons that led to the high exchange rate of the dollar against the Iraqi dinar back to the non-arrival of hard currency to the beneficiaries and the control of some private banks to large amounts of the currency."

Between Hadi that "the solution to the problem of high exchange rate is the adoption of a mechanism of bankCentral ensure the spread of hard currency in all areas to be available and therefore can not be for banks civil exploited and raise its value against the Iraqi dinar.

"and threatened to the Truth parliamentary sales of the Iraqi Central Bank last month by resorting to the parties competent international fight against money laundering to track the money that was in the Development Fund for Iraqsince 2003 to 2012 if it does not give the Iraqi Central Bank Commission full information.

witnessing the Iraqi market at the present time a significant increase in the exchange rate of the dollar against الدينارالعراقي reached in some cases to more of 1227 dinars to the dollar after it had been stable for 1120, the highest rate up to him exchange rate during the past two years.

    Current date/time is Tue 25 Oct 2016, 12:01 am