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Senior Economist: Stop foreign currency transfers would lead to a major catastrophe against the Iraq

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Hkp1
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Senior Economist: Stop foreign currency transfers would lead to a major catastrophe against the Iraq

Post by Hkp1 on Mon 24 Dec 2012, 11:26 am

Senior Economist: Stop foreign currency transfers would lead to a major catastrophe against the Iraqi dinar



Posted on December 24th, 2012
By: kald


BAGHDAD (Iba) ..
Considered an expert in economic affairs Dr. peace Sumaisem, asked the
central bank to stop transfers that come from foreign banks a major
disaster lead to the demolition of the exchange rate of the Iraqi dinar
against the U.S. dollar after improved during the last few years.


Said Smeisim told the independent press (Iba) ... Monday that "taking
the central bank procedures new off foreign remittances that come from
the banks will lead to a disaster in the exchange rate the Iraqi dinar
against the U.S. dollar, saying: that stop foreign remittances will lead
to higher price dollar exchange and the lack of risk in the financial
market over the demand for it and say was vulnerable and thus higher
Sheeran says and increase its value against the value of the Iraqi
dinar. "


She added: that the deterioration of the currency of any country lead
to the deterioration of the economy and thus that the currency is
economic value of the country and stop the foreign remittances make a
wrong lead to the low exchange rate of the dinar against the U.S.
dollar.


She explained: that just a rumor like this news in the market lead to
an impact on the dollar exchange rate, stressing: that one of the means
that helped Asagrar Iraqi dinar exchange rate after 2003 are
distribution outlets and currency auction In the case of off foreign
remittances and enter banks to auction currency will lead to Dollar
rises.


She Sumaisem: action must be taken properly informed by the Central
Bank before and get negative results lead to the deterioration of the
currency of the country and its economy. (End)





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