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Economy Iraqi dinar fall as a result of the dollar smuggling to Iran and Syria Warnings of doubling the value of the U.S. currency if stopped "central" daily auctions
Thursday, 16 Jumada first 1434 - March 28, 2013
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Introduction of new procedures limiting the availability of dollar markets
Iraq - Anatolia - Iraqi dinar continues to decline in the local exchange market, where the price of the U.S. dollar registered 1270 dinars to the dollar, compared to 1220 dinars in the middle of the March / March.
This comes in the wake of the central bank of Iraq new procedures that limit the availability of the U.S. currency markets where demand to buy them, amid suspicions suggest smuggling large amounts of hard currency in Iraq for neighboring countries.
And issued the CBI, last Monday, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar appreciates according to the capital of each, and will increase and decrease of this share exchange for a commitment each delivery amounts that customers want from citizens.
And according to the movement of the currency market in the northern region of Iraq, and according to the regional government paper sold per cent U.S. dollar on Wednesday, $ 127,000 Iraqi dinars, registering an increase of up to five thousand Iraqi dinars compared to the prices two weeks ago.
Ezzat, deputy director of the Central Bank in the north of Iraq, Kzizh Mohieddin, in remarks to Anatolia, the reason for the high price of the dollar against the dinar to the high demand in the markets and the decline rate offer, which goes back to the policies of the Iraqi Central Bank current.
And goes observers exchange market Iraqi that smuggling of large amounts of dollar located in Iraq for Syria and Iran, both of which suffered international sanctions caused shortages of hard currency, and it has one of the most important reasons for the increased demand for the dollar in Iraq, and thus reduce the Iraqi dinar exchange rate.
And in turn, said North Nuri, a member union economist in the province of northern Iraq, said that "the Iraqi government applied measures in dealing with foreign currency and its exchange rate against the local currency due to the Iraq war with Iran and wars following, where the central bank intentionally put the dollar and foreign currency other subsidized and less than the real exchange rate in the market to support the dinar. "
"I have no doubt that if stopped CBI Auction hosted by the dollar on a daily basis will double the value of the dollar against the dinar."
And ask the Central Bank of Iraq on Wednesday, daily auction to sell and buy the dollar, a total of 117 million and 72 thousand U.S. dollars to banks and companies exchange rate was 1166 dinars to the dollar, a price less than the market price, who scored 1270.
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Thursday, 16 Jumada first 1434 - March 28, 2013
[You must be registered and logged in to see this image.]
Introduction of new procedures limiting the availability of dollar markets
Iraq - Anatolia - Iraqi dinar continues to decline in the local exchange market, where the price of the U.S. dollar registered 1270 dinars to the dollar, compared to 1220 dinars in the middle of the March / March.
This comes in the wake of the central bank of Iraq new procedures that limit the availability of the U.S. currency markets where demand to buy them, amid suspicions suggest smuggling large amounts of hard currency in Iraq for neighboring countries.
And issued the CBI, last Monday, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar appreciates according to the capital of each, and will increase and decrease of this share exchange for a commitment each delivery amounts that customers want from citizens.
And according to the movement of the currency market in the northern region of Iraq, and according to the regional government paper sold per cent U.S. dollar on Wednesday, $ 127,000 Iraqi dinars, registering an increase of up to five thousand Iraqi dinars compared to the prices two weeks ago.
Ezzat, deputy director of the Central Bank in the north of Iraq, Kzizh Mohieddin, in remarks to Anatolia, the reason for the high price of the dollar against the dinar to the high demand in the markets and the decline rate offer, which goes back to the policies of the Iraqi Central Bank current.
And goes observers exchange market Iraqi that smuggling of large amounts of dollar located in Iraq for Syria and Iran, both of which suffered international sanctions caused shortages of hard currency, and it has one of the most important reasons for the increased demand for the dollar in Iraq, and thus reduce the Iraqi dinar exchange rate.
And in turn, said North Nuri, a member union economist in the province of northern Iraq, said that "the Iraqi government applied measures in dealing with foreign currency and its exchange rate against the local currency due to the Iraq war with Iran and wars following, where the central bank intentionally put the dollar and foreign currency other subsidized and less than the real exchange rate in the market to support the dinar. "
"I have no doubt that if stopped CBI Auction hosted by the dollar on a daily basis will double the value of the dollar against the dinar."
And ask the Central Bank of Iraq on Wednesday, daily auction to sell and buy the dollar, a total of 117 million and 72 thousand U.S. dollars to banks and companies exchange rate was 1166 dinars to the dollar, a price less than the market price, who scored 1270.
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