Deterioration of the Iraqi dinar from the dollar smuggling to Iran and Syria

Deterioration of the Iraqi dinar from the dollar smuggling to Iran and Syria





The faces of the Iraqi dinar a rapid decline in its value, as the U.S.
dollar rose registered 1270 dinars to the dollar, compared to 1220
dinars in mid-March / March current. And Aasohma significant
deterioration mainly to smuggle foreign currency (U.S. dollar) to
Syria and Iran, which suffer from economic sanctions, have caused
shortages of hard currency have, and this is one of the most important
reasons for the increased demand for the dollar in Iraq, and thus
reduce the Iraqi dinar exchange rate.

For his part, attributed the decision to the Committee on the economy
and investment MP / coalition of Kurdish blocs / Mohammed Khalil, the
reasons for the low exchange rate of the Iraqi dinar against the U.S.
dollar to the political problems in the country and the deterioration
of currencies of Iran and Syria against international currencies.
Khalil said: that the UN sanctions imposed on Iran and Syria led to
the decline of Altoman Iranian and Syrian pound against the U.S.
dollar, making Iran and Syria is in desperate need of hard currency.

He added: Iraqi trader is dealer pivotal and the import of goods
without restrictions prevent reverse McCann in the former regime,
which has become a close relationship between the Iraqi traders and
merchants neighboring countries and that of their way may be issued
hard currency to states of Iran and Syria.

He pointed out: that the political and security problems that plague
Iraq also contributed to reducing the value of the dinar against the
U.S. dollar by paying citizens to convert their money into dollars,
making there is a growing demand in the market for dollar without the
dinar.
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.

As likely Vice-Chairman of the Finance Committee MP for the coalition
of Kurdish blocs Ahmed Faizullah, the return of the Iraqi dinar
exchange rate to its natural price against the U.S. dollar, the
central bank requirement to take the necessary procedures and the use
of international expertise to support the national currency.

Said Faizullah: that the country is suffering from confusion to its
monetary and economic policy as the money that goes out of the country
imports more than the money that comes to the country from oil sales,
etc., in addition to there other funds wasted in various ways.
Confirmed: that the central bank demands take its necessary measures
to recover the value of the Iraqi dinar to its natural price against
the U.S. dollar, and the use of international expertise should benefit
from the recommendations of the International Monetary Fund to support
the national currency.

This witness the exchange rate of the Iraqi dinar decline in value
against the U.S. dollar during the current period, as a result of the
central bank's measures to sell hard currency.

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