Central Bank: the growing demand for foreign currency behind the decline in the Iraqi dinar

Played down the Iraqi Central Bank of the decline in the Iraqi dinar exchange rate against foreign currencies, particularly the U.S. dollar.

And saw the Iraqi dinar exchange rate decline against foreign currencies, particularly against the U.S. dollar as the price of the U.S. dollar in recent days, JD 1240, but returned to the decline and is now to 1210 Iraqi dinars.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the News} {Euphrates today that "the decline in the dinar exchange rate was due to increased domestic demand for purchase of foreign currency as a result of domestic and regional factors."

He added that "the increase in demand Alamlhalajunbah was due to fears among some of the U.S. withdrawal from the country as well as recent developments in the political arena."

"As the regional conditions, especially economic sanctions imposed on the Syrian banks has made the Iraqi traders are buying up large amounts of foreign currency to buy goods from Syria."

He emphasized that "the decline in the Iraqi dinar will not continue because the central bank owning a stable monetary policy as well as large stocks of foreign currency up to sixty billion dollars, so this fall as the bubble soon burst."

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Very good article.. Its very true as with any country, when there is political unrest and uncertainty you will always have large fluctuations in the currency. The CBI is doing the right thing and doing what has to be done to control a stable currency. It is just a matter of time before they will have to raise the value..

Thanks Grashopa

Thanks grashopa.

Enjoyed the comment from The Rock as well.