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The Central (range economic): nothing to do with the withdrawal of U.S. Bankhvas dinar
Date: Mon 12/19/2011 8:06
□ Baghdad / Ahmed Abed Rabbo
denied the deputy governor of the Central Bank of the appearance of Mohammed Saleh, said that the U.S. withdrawal from Iraq, a major influence on the rise of the dollar against the dinar, pointing out that this withdrawal will increase the strength of the Iraqi dinar.
Said Saleh (range economic): The regional situation that occurred in the region have influenced this decline has made the Iraqi trader and broker in the region, trade is regional need financing in foreign currency and on this basis began to pressure on the auction the central bank to Toviramlh foreign so the market can keep up with so of additional business.
Saleh added: that the central bank fears of transactions relating to money laundering and that do not go in the service of the country, noting that this intensification and audit transactions Born a thing of the bubble price and in spite of, the power reserves of the Iraqi Central Bank foreign currency is the food of the coin local rate of 100% means that monetary policy has the ability to cope with any bubble forming caused by external conditions imposed on the national economy.
He pointed out that the central bank is currently the highest reserves in its history.
For his part, the economic expert on gnathion NA cause of the high exchange rate dollar, the Iraqi front of the dinar is due to fear psychological in the Iraqi market
, said gnathion NA's (range economic): The slight rise in the value of the dollar against the dinar goes back to the psychological situation in the Iraqi market, noting that there are expectations by some of the people that get out the Americans will affect the exchange rate The local currency is called a group of them to convert their money to the local dollar.
He gnathion NA: The pressure of external payments by traders and investors affected is the other concern to the local currency.
He pointed out that Iraq has enough funds are not owned by any of the neighboring countries as compared with the value of output the local state, pointing to the ability of the government bond currency and maintain the dinar's exchange rate stable.
Observers believe that the sudden decline of the dinar against the dollar in recent days Find fear in the local market, the dinar fell of 1117 dinars to the dollar to 1245 with the central bank cut from the sales of the dollar to less than ten million after it exceeded this figure in the rate of sales day of the U.S. currency by about ten times or more.
The gold are specialized to the existence of the movement draws vast financial witnessed by banks in recent days by the companies economic institutions as well as merchants and citizens.
and simple drawings that the institutions of banking imposed on the transfer of funds out of the country have risen to about five times because of high demand on the funds.
Some go in conversations between U.S. withdrawal and the escalation of divisions in the country, and fears that led to the devaluation of the dinar, as well as the country's vulnerability to wave external demands may affect the cash reserve in case Iraqi raise her hand the United States for the protection of Iraq's money fund, which was estimated at about fifty billion dollars.
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