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Observers: dip, Shabibi dinar missed and we fear the continued decline
Thursday, 16 may 2013 17: 07
Twilight
news/Iraqi dinar is currently experiencing a decline in its value
against the US dollar since the Government sacked the former head of the
Central Bank, Sinan Al-Shabibi is raising concern among money and
economy in particular.
And the value of the Iraqi dinar fell
gradually during the past few weeks, bringing the price of the dollar to
about 1,300 dinars after was stable from 1120, the highest rate of
exchange-rate mechanism for the last two years.
And observers
believe that the decline rate of the Iraqi dinar has since Prime
Minister Nuri al-Maliki decided suddenly to exempt former Central Bank
Governor Sinan Al-Shabibi, head of the Office of financial supervision
Abdel Basset Turki.
They also believed according to radio free
Iraq obtained by "twilight news this procedure and accusations with
former Central Bank Administration left its impact on the Bank's
reputation and the reputation of Iraq in world markets.
He
expressed this view financial expert Majid mock who explained also other
internal and external factors that may have contributed to the
degradation of the value of the Iraqi dinar, including the regional
situation, especially in Syria and Iran and then the consumer
orientation of the Iraqi Government and instability in Iraq, prompting
funds to flee abroad.
Mock noted that the Central Bank sold large amounts of US dollar vary by between 50 and 100 million dollars a day.
The
mock said that solutions emerge from the crisis requires joint effort
at all levels in addition to the other solution is to float the currency
but the main solution in his view is to revive the neglected by many
development because it does not come with such a direct profit trading
and import. The import volume reached 64 billion dollars in 2011 while
the former does not exceed $ 9 billion.
And Economist Salim
Al-jibouri tried to explain the effects of the deterioration of the
value of the Iraqi dinar to the simple citizen and on the internal
market and the most important effects appear in the prices of goods
available in the Iraqi market and imported goods depends on the dollar
if the dollar rises with increased prices of all goods and commodities.
However,
Al-jubouri said the two central bank balance and currently exceeds $ 70
billion, is what makes the Government unable to intervene and support
the value of the Iraqi currency.
He is a member of the Finance
Committee in the House of representatives Secretary Hadi Abbas that the
deterioration of the local currency occurs in all countries and in every
place.
And the lack of any kind of threat to the large reserves
at the Central Bank and is able to cover all the defects, according to a
Deputy who accused some banking authorities of being behind the dollar
trading inventory for special purposes.
P r/m c
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Thursday, 16 may 2013 17: 07
Twilight
news/Iraqi dinar is currently experiencing a decline in its value
against the US dollar since the Government sacked the former head of the
Central Bank, Sinan Al-Shabibi is raising concern among money and
economy in particular.
And the value of the Iraqi dinar fell
gradually during the past few weeks, bringing the price of the dollar to
about 1,300 dinars after was stable from 1120, the highest rate of
exchange-rate mechanism for the last two years.
And observers
believe that the decline rate of the Iraqi dinar has since Prime
Minister Nuri al-Maliki decided suddenly to exempt former Central Bank
Governor Sinan Al-Shabibi, head of the Office of financial supervision
Abdel Basset Turki.
They also believed according to radio free
Iraq obtained by "twilight news this procedure and accusations with
former Central Bank Administration left its impact on the Bank's
reputation and the reputation of Iraq in world markets.
He
expressed this view financial expert Majid mock who explained also other
internal and external factors that may have contributed to the
degradation of the value of the Iraqi dinar, including the regional
situation, especially in Syria and Iran and then the consumer
orientation of the Iraqi Government and instability in Iraq, prompting
funds to flee abroad.
Mock noted that the Central Bank sold large amounts of US dollar vary by between 50 and 100 million dollars a day.
The
mock said that solutions emerge from the crisis requires joint effort
at all levels in addition to the other solution is to float the currency
but the main solution in his view is to revive the neglected by many
development because it does not come with such a direct profit trading
and import. The import volume reached 64 billion dollars in 2011 while
the former does not exceed $ 9 billion.
And Economist Salim
Al-jibouri tried to explain the effects of the deterioration of the
value of the Iraqi dinar to the simple citizen and on the internal
market and the most important effects appear in the prices of goods
available in the Iraqi market and imported goods depends on the dollar
if the dollar rises with increased prices of all goods and commodities.
However,
Al-jubouri said the two central bank balance and currently exceeds $ 70
billion, is what makes the Government unable to intervene and support
the value of the Iraqi currency.
He is a member of the Finance
Committee in the House of representatives Secretary Hadi Abbas that the
deterioration of the local currency occurs in all countries and in every
place.
And the lack of any kind of threat to the large reserves
at the Central Bank and is able to cover all the defects, according to a
Deputy who accused some banking authorities of being behind the dollar
trading inventory for special purposes.
P r/m c
[You must be registered and logged in to see this link.]
You must of known where that came from... ;)
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