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Decline in the value of Iranian Rial hurt trade Najaf and Karbala, Iraq
Posted 16/02/2012 03:01 PM
BAGHDAD - Babinaoz (Reuters) - in the Iraqi holy city of Najaf and the Shiite holy shrine in which the economy is closer to the brink of recession. city is the main station for religious tourism as come to it every year hundreds of thousands of Shi'ite pilgrims from neighboring Iran.
But with the low value of the Iranian Rial against the U.S. dollar traders feel the Iraqis in Najaf, a slowdown in their trade. said shop owner fabrics in the market town of Najaf speaks Farsi fluently and speaks Arabic, named Abu Zeid told Reuters Television, "the descent of Altoman (Iranian Rial) the impact we have now. We open and isolate (close) What Nstfath (sell anything), because Al-Gadir (chador Iran), which we sell five twins (SAR) six twins now Jader sold four tenth Toman thirteen twelve Toman. visitor sees a high price it does not benefit him filled and walking. was Altoman B 120-130 (the U.S. dollar is equal to between 12,000 and 13,000 rials) now Altoman 195. we took our things we are all in dollars Venhsabha dollar. no longer benefit us. I am one of the people Nawi change my career because the work of MACON (none) to work. "
With the continued disagreement Iran and the West, particularly the United States and Israel and the imposition of U.S. and European sanctions on Tehran, the more they suffer from merchants and consumers.
The owner of a shop tools Accessories for women called Haj Jaber Al-Shukri, told Reuters Television "in Najaf we have more visitors who frequent the holy shrines is the Iranian people. The Iranian people, this blockade affected .. affected their currency to get off and passed us in the past. When he became a down economy Najaf affected this down .. what the visitor buys the need because the need that we sell a thousand it became Balvin. become weak became seen not expensive to buy. when it becomes the siege of the Iranian economy. the Iraqi economy and especially the holy places of their economy will be affected. "
A low value of the Iranian Rial to affect the Iraqi economy as a whole. The Iraqi government is closer to Tehran since the US-led invasion of Iraq and ended the regime of President Saddam Hussein in 2003 and currently has become Iran's largest trading partner of Iraq after the other neighbor, Turkey.
In the holy city of Karbala, Iraqi Shiites have also refused to accept some traders Iranian Rial of visitors preferring the U.S. dollar the most secure and which is still used widely in Iraq.
The owner of the place exchange in Karbala named Nizar Nasser told Reuters Television "Altoman Iran's affected us too much because become its many changes. Rose .. down .. and changed the prices do. It cause us heavy losses. Many of our community harmed and lost and so far an ongoing process. Loss exist. This volatility in the price you can not act that brings you the amount that Anya (fast) must wait until they change you can. switch affects Akhosrna and of course we can not not exist because we are dealing with visitors. "
He says that the Central Bank of Iraq Iraq's reserves of foreign currency, which rose to 60 billion dollars will protect the financial system of the country from any harm to the local level.
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