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Central: the high price of the dollar caused by the financing of trade Baeraki neighboring countries
10/1/2012 0:00
BAGHDAD / future Iraqi
attributed the Iraqi Central Bank, yesterday, the exchange rates of U.S. dollar in the local markets and higher sales to finance the country trade neighborhood, noting that it will reflect negatively on its reserves of hard currency. The deputy governor of the Central Bank of the appearance of Mohammed Saleh said in a statement news, "The exchange rate U.S. dollar against the Iraqi dinar in the Iraqi market, as well as higher sales of the Iraqi Central Bank foreign currency due to the financing of trade neighboring countries by the Iraqi traders," noting that "the central bank sales of foreign currency during the early year 2012 is now weaker than it was to be sold during the year 2010. "witnessing the exchange rate of U.S. dollar in the local markets of Iraq about the Iraqi dinar increased significantly between 1221 thousand to 1225 thousand Iraqi dinars to the dollar, while the exchange rate of U.S. dollar against the Iraqi dinar During the past year 2011 with a 1080 dinars to the dollar. Saleh pointed out that "regional variables surrounding Iraq also played a part in the rise of the dollar and sales of the bank," noting that "stop banking transactions and banking with the neighboring countries of Iraq to the east and west with the countries of the world pay the merchant for Iraq to finance trade in these two countries instead of funding the Iraqi Trade" . The Deputy Governor of the Central Bank of Iraq that "the central bank sales of foreign currency amounted to $ 300 million on average per day, whereas they used to be sold in 2010 was around $ 150 million on average per day," asserting that "sales of the bank during the year the past and the $ 150 million was enough and sink markets, the whole of Iraq of commodities and goods. "Saleh pointed out that" the central bank intervenes in the market to keep the Iraqi dinar exchange rate, as well as the financing of private sector trade, "explaining that" the high bank sales of foreign currency that will cause pressure on the auction the bank and its reserves of hard currency that would be diminished because of that. "Salih stressed that" the central bank's reserves of hard currency will not be relevant in the event of continuing strong demand for hard currency, "pointing out that" the There is an increasing demand for hard currency for the benefit of the economies of other countries. "
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