CBI: the return of the dollar exchange rate to what it wasPosted: December 21, 2011 in Iraqi Dinar/Politics
Tags: Baghdad, Central bank, Central Bank Iraq, Currency, exchange rate, Iraq, Iraqi dinar,Saleh
Comes from the www.currencyNewshound.com
Down the dollar exchange rate to what it was a few weeks ago to stand at 1,200 dinars per dollar, and comes at a time deliberately in which the central bank to pump more than 400 thousand dollars to the local market to fill the growing needs of the dollar, which invited him to double the sales of foreign currency in Mzhadath daily to meet the demand of businessmen and traders and to reduce the gains the dollar, which reached numbers high during the week and the past.
He was interested in the economic aspect played down the risk of high dollar, which is attributable to get speculation among currency traders, pointing out that ups that occurred no more than that be more than temporary and will return after the normal price of the exchange, and while the price of the dollar over the past week and the beginning of this week’s numbers are high reached 1227 dinars per dollar, said an official source at the central bank that rises uncontrollably, and he was increasing U.S. dollar selling Mzhadath daily to meet the growing demand to that currency, saying he sucked nearly trillion Iraqi dinars from the local market after selling more than $ 400 million to meet the great demand for foreign currency.
The price of the dollar climbed to higher numbers somewhat over the past few days to reach the exchange rate in local markets around 1227 dinars per dollars, which led to the apprehension of many specialists in economic affairs, who warned that the continuation of it may work on the high inflation significantly in the coming days unless under control, calling the central bank to use the wider powers and extend his influence to absorb the unit rise, and at the same not time markets are notable gains in the same period which saw the rise of the dollar, as expected, have been observed (morning) the survival of many of the prices of goods and services on what it months ago from now, and are interested in the economic That it’s up to the falling demand and increased supply , which helped to keep prices on what it is until after the rise in the dollar.
has assured the Central Bank and the words of Vice President of the bubble price, which witnessed the dollar had special reasons arising from the emergence of a great demand for foreign currency, for reasons he said were related to the financing of regional trade and as a result of the withdrawal of U.S.
The appearance of Mohammed Saleh during his speech (morning): The Central sold during the past 48 hours more than $ 400 million to the public through Mzhadath daily, absorbing nearly trillion dinars of liquidity available in the local markets, stressing that the price of the dollar in the parallel market took the land of the remarkable and chief Tuesday after pumping this figure the huge foreign currency, which confirms that the high dollar selling prices are only to be more of a bubble price can not affect the national economy.
Saleh explained that the Iraqi dinar currency strong and will be covered in the currency of of foreign protection and by more than 100 percent per unit of domestic monetary, indicating that the increased volume of applications to the foreign currency which exceeded the need to pay the central bank to subdue these applications to more scrutiny and censorship for fear of money laundering, denying at the same time, rumors of a restriction of transfer of financial which resulted in the recent times for actions committed by the Central Bank in the form of increasing the size of the audit and led to delay in transfer of funds, said Saleh also: Freedom of money transfer is available to everyone now, and the central bank chief for the market and the process of controlling prices, the currency is able to protect the Iraqi dinar believe in him fully preserving the exchange rate.
in turn, indicate the number of owners Chierfat own during conversations (morning) decline the sale and purchase of currency during the past few days which saw the rise in dollar prices, stressing that those prices were offset aversion clear by the citizens who wish to sell or buy foreign currency, said Kassem Saleh shop owner for banking in Baghdad that the price of the dollar, which rose recently has seen fluctuations in price in the cost of other commodities, materials, indicating that the application process was almost uninterrupted over the past days to buy the dollar and its owner, a decline in purchases of foreign currency caused by fear owners Chierfat what can accrue to him prices that currency quickly.
and stayed prices of goods and foodstuffs in the markets of the beautiful nature of it months ago, and traders said the market that the rise of the dollar did not affect never in the sale and purchase of food, describing these altitudes Baellouktah. He and Sam Zaidi, the owner of a shop in the markets of beautiful food prices have not experienced any gains remember after the rise of prices of the dollar in recent times, however, al-Zaidi said a decline in demand, said that the result of confusion vendors themselves from the possible continuation of the rise of the dollar, and Zaidi said Most traders who finance their trade in hard currency (dollar) requires the transfer of such large amounts of currency and to a number of neighboring countries, which may serve to increase the prices of some materials as a result of that slight elevations, which he said could be reflected in future to consumers if it continued.