Financial representative (statement): rise of the dinar against the dollar to support purchasing power and increase development opportunities
Author: newspaper Posted date: July 16, 2013 In: Iraq
Baghdad Ahmed Sadiq
With the departure of Iraq under Chapter VII and the opening up of foreign trading space and high international trusteeship, it became clear that the Iraqi economy will go toward prosperity, especially with a desire to alimh to enter the investment market despite insecurity in some provinces, the Iraqi dinar exchange rate has moved relatively well against the dollar after the movements of giant investment companies as long as you wish to enter the Iraqi market with hard currency projects as interpreted by analysts that economic well-being and good news A promising economic future as well as to Iraqi assets abroad and $ 76 billion in addition to the 30 tonnes of gold bullion.
The parliamentary Finance Committee confirmed the existence of several channels to revive Iraqi dinar exchange rates against the dollar and other currencies at the same time, that art the dinar exchange rate against the dollar would have positive effects on the purchasing power of the Iraqi dinar to his barltvaa rise of import (USD).
Told Abd al-Husayn al-yasiri in SMC (statement) that Iraq's openness to the world economically through editing the frozen assets of $ 74 billion, equivalent to two and a half from the current reserve and added for strategic stocks of currency will push towards raising the dinar by providing financial cover for the Iraqi currency in banks.
Al-yasseri said that the coming period will witness a recovery of prices through dinar investment firms and currencies which is a stratigia of the currency through openness Iraqi relations in various engagements in the area of open contracts with international companies in various fields.
The second channel of the supply of hard currency lies in opening up tourism in Iraq offers a wide good for Iraq through the entry of increasing numbers of tourists to religious facilities, tourist and archaeological sites that our dear.
He said regular oil exports and strengthening entitlement to Iraq by lifting oil exports increases's earnings from foreign currency and that will be reflected positively on the ability of purchasing through citizen rising dinar value to goods and services imported with hard currency.
We confirmed through Economic Commission appealed to the relevant ministries, essential work to promote the work of their departments and for the life of the broken sectors after Iraq from international sanctions and its full sovereignty and invest all the possibilities to promote sectoral institutions and returning Iraq to the economic position it deserved based on his potential financial, material and human.
For their part, assured a group of banking and money transfer companies to increase the value of the Iraqi dinar is normal for the Iraq of hard currency abroad, noting that the funds received by Iraq oil sales to the US dollar and the abundance of this currency increased the height of the dinar against the dollar. and Yasser Al-daradji (a house) that the high value of the Iraqi dinar promised a welcome return in Iraqi and international market albeit slight rise somewhat but is expected to value High limits comparable to the US dollar in the foreseeable future. He appealed to Al-daraji, the need to prepare for any sudden movement in high or low value of dinar on the grounds that the decision is still new and can not know a fixed rate to the dollar for the time being.
He (Anwar al-abboudi) wholesaler that the high value of the Iraqi dinar is very positive aziz dinar as a strong currency will enhance the value of the deal outside of Iraq and rid the country of foreign currency dominated, stressing that Iraqi trade depend on the dollar and might not get upset at the external level
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