Home
Iraq Is Witnessing a Migration of Foreign Currency Because of the Political Situation
Dec 21 2011
Iraqi banking sources revealed that the last few days have seen a broad movement of remittances by a large number of Iraqi traders and owners of capital to financial institutions in a number of Arab and foreign countries.
The sources said in a statement (Baghdadiya News) that “there is fear prevail in the general situation in Iraq for two main reasons, firstly the U.S. withdrawal and the tense security situation and second, the political crisis that emerged during the daily two, especially news about the arrest warrant issued against the Vice-President Tareq al-Hashemi and try to head Minister to withdraw confidence from the Deputy Saleh al-Mutlaq “
She added that “there is concern also because of the announcement of some provinces asked the provinces.”
Increased and that “the Iraqi economy is negatively affected by such news, which made most of the owners of capital and investments by thinking outside of Iraq, so has seen several Iraqi banks to transfer funds to financial institutions abroad, especially in Dubai and Oman”
It is worth mentioning that the political crisis taking place now in Iraq has affected negatively on the Iraqi dinar exchange rate and the dinar fell by 4 percent during the past two days as well as the index fell Iraqi Stock Exchange at yesterday’s meeting by 0.82 percent and the central bank cut its sales of dollars to less than ten million.
[You must be registered and logged in to see this link.]
Dec 21 2011
Iraqi banking sources revealed that the last few days have seen a broad movement of remittances by a large number of Iraqi traders and owners of capital to financial institutions in a number of Arab and foreign countries.
The sources said in a statement (Baghdadiya News) that “there is fear prevail in the general situation in Iraq for two main reasons, firstly the U.S. withdrawal and the tense security situation and second, the political crisis that emerged during the daily two, especially news about the arrest warrant issued against the Vice-President Tareq al-Hashemi and try to head Minister to withdraw confidence from the Deputy Saleh al-Mutlaq “
She added that “there is concern also because of the announcement of some provinces asked the provinces.”
Increased and that “the Iraqi economy is negatively affected by such news, which made most of the owners of capital and investments by thinking outside of Iraq, so has seen several Iraqi banks to transfer funds to financial institutions abroad, especially in Dubai and Oman”
It is worth mentioning that the political crisis taking place now in Iraq has affected negatively on the Iraqi dinar exchange rate and the dinar fell by 4 percent during the past two days as well as the index fell Iraqi Stock Exchange at yesterday’s meeting by 0.82 percent and the central bank cut its sales of dollars to less than ten million.
[You must be registered and logged in to see this link.]
