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Iranian traders smuggle hard currency from Iraqi Kurdistan
Posted 09/02/2012 10:36 PM
Erbil (Northern Iraq)
With the growing impact of the recent package of international sanctions imposed on Tehran, and the subsequent decline in the value of Iranian rial, the Iranians have stepped from the smuggling of hard currencies, especially the dollar, from Kurdistan, which record losses of merchants billion as a result of non-payment of dues fellow Iranians.
In spite of what is going to talk about a surge in the dollar smuggling of the country, officials and analysts expect to be able to Iraqi Central Bank to reduce this phenomenon by a policy of controlling supply of the currency. The one currency traders in Erbil told «life», that the price of the Iranian rial before the imposition of sanctions on Iran last was not to exceed the threshold of 1150 riyals to the dollar, but now Ignoring 1850, pointing out that this increase, the Iranians pushed traders to buy dollars.
The other dealer in the same market, that the Iranians are buying the dollar stealth, it is difficult to be able to view them on the market publicly, as they agree in advance with one of the owners of shops or currency traders to complete this process, and buying the dollar against the Iraqi dinar, referring to the currency Iran's mostly available in the market comes from the province of Najaf. And what is happening from the smuggling of the dollar, the President of «Chamber of Commerce and Industry of Arbil» Dara Jalil Khayat said Iranian traders have resorted to the region to sell the Iranian Rial and replace the dollar, but not to the degree that we are talking about, pointing out that the Iraqis have previous experience in this area , precious and the circumstances in which they have been through over the past fifteen years dealing gingerly with foreign currency. He noted that the Kurds were traders before the crisis period, having declined to hundreds of Iranian traders to pay what it owed money as a result of the sharp fall in the Iranian Rial, by 40 to 50 percent.
She analyzed the economic peace Sumaisem that «the Iraqi market, hit hard, and dropped the value of Iraqi dinar, influenced by smuggling operations of foreign currency by the Iranians, and that the Central Bank of Iraq is trying hard to address this policy by controlling the amount of the supply of foreign currency and local through auctions, and through relationship banking offices. And made it clear he would not return to a policy of the former regime and the application of central policy, because the market is now open and free. She emphasized that the «central» will be able to control this problem.
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