Government: Iraqi currency Reserved

by day dreamer Thu 18 Jun 2015, 10:36 am

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Government: Iraqi currency Reserved

by day dreamer Thu 18 Jun 2015, 10:36 am

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6/18/2015 0:00

Baghdad morning - Tariq al-Araji
accelerate efforts and government-paced, to reduce the high volatility that has occurred on the national currency, and led to a decline in value against foreign currencies during the last period, to coincide with the efforts made by the Legislative Council as the highest supervisory authority in Albulad.az The head Minister Dr. Haider al-Abadi, said the government will limit the damage speculative currency, reassuring in this regard as: "Do not fear the Iraqi dinar exchange rate against the US dollar," .oaqbil heading to Iran yesterday, Abadi said in a statement to reporters from inside the Baghdad International Airport " We will hit manipulators dollar terms, with an iron fist, "adding that" there is speculation and manipulation by spoilers who want to influence the current economic situation of the country. "
He added: "Iraq locked in two wars, the first an with Daash, and the second against corruption and manipulators Bakot people," he said, adding "The dinar propped strongly, the central bank has large reserves that cover the Iraqi currency and a half times."
He called on the Prime Minister, to the citizens' trust because dinar Mahfouz has a great economic power. " Following up, that "Iraq has the capacity a lot of grace oil thing and grace are able to protect our wealth and our criticism of human resources."
For his part, stressed the Director of the Office of Prime Minister Dr. Mahdi Keywords, said the government considered the issue of fluctuating dinar exchange rate against the dollar, and expressed his belief that there type of hype this subject.
He said: "This is creating a kind of panic and confusion in the local market, and when taken some steps and made notes, began the national currency exchange rate is getting better," pointing out that "this bubble that suddenly appeared, in which some aspects which seeks to disrupt the political and economic process. "
He stressed Keywords, that the central bank will issue some important notes during the next two days, as the prime minister will meet with cell crisis that address economic issues and will be issued a clarification on what happened.
measures "urgent" and "futures" taken quickly by the Central Bank as the official body responsible for formulating monetary policy of the country, it led to a decline in the price of percent dollar for 137 thousand dinars, after reaching 143 thousand, over the weekend.
One such action was the bank sells the amount of the dollar in the auction yesterday, equal to three times as decided by the current year's budget, where sales Wednesday amounted to more than $ 257 million, according to press reports circulated by local news agencies.
The reports pointed out that "the quantity sold in cash amounted to 42 million and 375 thousand dollars, and the quantity sold Khawwalat amounted to 215 million and 276 thousand and $ 600 , priced at 1166 dinars exchange rate to the dollar, and with the participation of 22 banks. "
While the sale of remittances price of 1187 dinars / dollar, including the commission of the Central Bank of $ 21 dinars per dollar, with total cash sales price of the dollar in 1190 dinar / dollar, including the commission of the Central Bank of $ 24 dinars per dollars. And participated in the auction of cash sales of 0.315 banking and financial transfer company.
In context, MP for the "national coalition" Kadhim al-Shammari, the central bank called off the sale of the dollar to the private banks process and turn them into government banks, warning of a "mafia" working to pull the dollar bills Import "strange and forged" was the cause of "the market burned" and fall of the local currency's exchange rate.
The transfer press statement from al-Shammari said: "During our visit to the General Administration of Customs, were struck by the existence of cases of corruption and fraud get through the transfer of funds from private banks and the Central Bank to operations Traders under buy goods title. "
He added: "It is supposed within this context that the central bank approached customs authority to verify the import of goods process, in addition to the knowledge of the tax value shall be refunded from the import of those goods to be the proceeds of the Central Bank," explaining that "what is happening that the central bank does not approached customs, and this creates Baba serious of doors withdraw foreign currency and traded in the market. "
Member of the Committee, "Labour and Social Affairs," the parliamentary, said that "the mechanism going on the need to go a trader wishing to import goods to private banks to buy foreign currency and it offers banks a bill of goods that are supposed to be purchased, "pointing out that" the National Bank, in turn, collect a number of invoices and send them to the Central Bank to take over the amounts of those invoices. "
He stressed al-Shammari, that "there are serious mafias burned the market," stressing "the need to rapid action of the Integrity Commission and the Board of Supreme Audit to follow up on such cases was the cause of the local currency deterioration. "
He continued: "Some bills bear strange figures, which import 60 million refrigerated air, and that means Mbrdtin every Iraqi citizen," pointing to the existence of "import bills rebar used in construction and that if they had actually entered it constitutes a cloud of iron covered the skies of Iraq from north to south, not to mention that some traders sends every day purchase bill, to pull hard currency without follow-up of the central bank and we are convinced that all these Invoices are forged. "
declining value of the dinar against the dollar, pushing the number of people affected to demonstrate, where dozens of citizens and shopkeepers came out in "beautiful" area, yesterday in protest at the low value of local currency against foreign currencies, demanding the Governor of the Central Bank on the Keywords, to immediately intervene to end this issue which has caused rising prices of materials and reduced the purchasing power of citizens.

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