Traders attributed the rise to the scarcity of supply in the currency auction and the parliamentary

Traders attributed the rise to the scarcity of supply in the currency auction and the parliamentary committee confirmed that the situation after «Shabibi has not changed



Economists: Central dollar sale of Iranian companies behind the rise and parliamentary Finance: will not be silent



Tuesday-12 Mar 2013 No. 774



Sulaymaniyah - Rana Ahmed



Economists attributed the rise in the exchange rates of the dollar in recent central bank to sell dollars to Iranian companies, pointing out that these companies are smuggling money out of the country, contributed significantly to the scarcity of the dollar in the local markets.



As currency traders believed that the main reason is due to the lack of dollar supply in the central bank auction, which fell to $ 70 million after the show was up to $ 200 million.



While it as a Knesset Finance that "wrong policies" of the Central Bank current is responsible for the rise and it will not tolerate it, pointed out that the situation which is why the exclusion Shabibi from office still exists, recognizing that the Parliamentary Committee on monitoring exchange rates neglected work did not turn required in this area.



In an interview with "The World" on Monday, said Khaled Haider, a professor of economics at the University of Sulaimaniya, said "the central bank announced at the beginning of this year for limited dollar selling on companies and traders agents, and those who buy the dollar from the central bank at the pose of the markets at last, In economics a scarce commodity in high demand markets and price rises. "



Haider added, "As the sale of these companies in hard currency for Iranian companies contributed significantly Bashanha within the Iraqi market, as these companies are smuggled them out outside the country, which became one of the most important causes of instability dollar exchange rates in the Iraqi capital market."



And witness the exchange rate of the U.S. dollar in the local markets about the Iraqi dinar remarkable rise between 1245 to 1250 dinars to the dollar, while the exchange rate of the dollar against the dinar, over the past year 2012 is 1,200 dinars to the dollar.



In turn, said Reda Abdel Wahab, a currency trader in the dollar market in Sulaimaniya, "the world" yesterday, "The central bank had previously sold daily $ 200 million, while now sells about 70 million dollars, and this greatly affected the price rise dollar recently, "warning that" if the central bank continued to sell less than $ 200 million, the case will continue rising dollar against the Iraqi dinar. "



"As the central bank to sell the dollar became limited to some companies and agents and who have come to control the raising or lowering prices dollar, and this unfortunately led to the loss of some merchants and citizens big losses because of the high value of the dollar."



For his part, student Mohammed Raouf financial expert said in an interview with "the world" yesterday, "citizens to stay away from buying the dollar in this period, because the price of the dollar vacillating and unstable Kurdistan region and the whole of Iraq, while the trend towards buying gold instead of the dollar will ensure not losing money to the point that the price of gold is fixed and stable. "



Furthermore, noted Dler Abdul Qadir, a member of the Finance Committee in Parliament that "the Finance Committee in the House of Representatives has an ad hoc committee to follow up exchange rates, and everything related to the subject of foreign currency at the central bank, but unfortunately, since the formation of this committee have not received a report one in this regard, and did not hear a single sentence on the tasks assigned to it, "noting that" the problems that were experienced by the central bank, and the situation that led to reached by Bank Governor Sinan al-Shabibi are the same are still continuing and we doubt that the Iraqi money today in good hands , and we after approving the budget will seek diligently to follow up the case of high prices in the currency, because it is an issue involving the daily economic life of all the people. "



He denied Abdul Qadir in an interview with "the world" yesterday "any connection between the delay, which happened in approving the budget and rising prices of dollar-winning today, but it may be busy House budget and approved in the last period has led to the absence of follow-up of the Iraqi funds, where no longer appointed open on what is happening in the Central Bank, "calling" bank governor agency, to work faithfully, and they will not allow higher prices that led to the great harm citizens, due to the Bank's approach to the wrong policies. "



The member parliamentary Finance Committee that "we have no information regarding smuggling money out of the country, and this of course is unacceptable, and that this information is confirmed, there is a section in the House of Representatives in charge to follow up this subject, is supposed to follow the issue of smuggling of money."



[You must be registered and logged in to see this link.]