Dollar rises again .. specialists are demanding the central bank to clarify the reason for the low v

Dollar rises again .. specialists are demanding the central bank to clarify the reason for the low value of the dinar

BAGHDAD - My Day

Thursday - August 4 (August) in 2016 

after a period Tzbzbah to the dollar exchange rate against the dinar back today to rise to $ 1 280 thousand dinars per dollar, it has warned a number of specialists in the financial and economic of the continued rise in the dollar exchange rate, which will lead to stasis of inflation in the domestic market issue, demanding the Central Bank clarify the real reasons behind the dramatic decline at the price of the Iraqi dinar exchange rate against the US dollar. Economic Commission parliamentary and called for the central bank to the need to take the necessary measures to maintain the dollar 's exchange rate against the dinar measures, stressing that the continued rise will lead to stagflation in Alsoq.oukalt committee member Rep . Najiba Najib told a news briefing that the rise of the dollar was due to the lack of central bank sales of hard currency in the light of the increasing demand to buy it, which led to a rise in the market, stressing the need to take necessary measures and processors to create a balance between the dinar and the dollar in the market and maintain stability in the exchange rate. The Iraqi market is witnessing a marked rise in the US dollar against the dinar as it is expected that the dollar sales decline in the central bank auction of this year , according to the law of the state budget , which began in Parliament on 29 January last. Meanwhile , a financial expert on behalf of al - Tamimi, said that "there is a significant and sudden rise in the US dollar against the dinar For the central bank need to clarify the reasons for this increase and that shows what actions and policies taken to preserve the value of the dinar . " He added Tamimi in a press statement that " the conduct to determine bank sales Central to the dollar in its daily auction was due to financial distress , home to Iraq and maintain the bank 's reserves of foreign currency which is linked with earnings of Iraq in the fall and rise and be maintained by reducing its demand for the dollar and cover the basic needs of it . "He continued , " we have in Iraq uncontrollable commercial and there goods in the market is not worth the importation where there are stocks of durable household as materials and cars suffice Iraq for several years , but the import is continuing and this exhausts the state budget . "He pointed out that" the strength of the Iraqi dinar , which is covered in foreign currency , according to the currency bloc define more than one and a half times but at the same time , we must achieve a balance in maintaining the amount of foreign currency exchange rates and the value of the Iraqi dinar. " The law stipulates that the central bank is committed to identifying sales of hard currency) dollar (in the daily auction ceiling does not exceed $ 75 million a day , with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of buy it for the amount and otherwise applied to the bank penalties stipulated in the Central Bank Act or regulations issued from it, and use other banking tools to maintain the strength of the dinar against the dollar. it was not known yet whether the price of the Iraqi dinar will be affected by the application of this article and observers fear that a lack of supply of the dollar in the markets will lead to a rise in its price in dinars ..