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Markets experiencing a slight elevation and fear of increased rates of inflation
19/02/2012
After the reports about smuggling dollar
BAGHDAD - Haidar al-Rubaie Filaih
Still the dollar is the most control over the prices of materials and goods in local markets of Iraq, when baptized the Iraqi Central Bank to increase the value of the dinar against the dollar have not experienced material prices decline as expected, and when rising U.S. dollar exchange rate quickly rises with the rest of the daily needs of a family of food and clothing and household items, and this equation may be vague in many respects but it still controls the market Bmattiyadtha reflected these days negatively on the overall stores that sell food and household across the markets of Baghdad and the provinces, at a time began to indicators of the dollar to rise saw the prices of goods and merchandise are the other rises slightly in the whole of Iraq, because experts and specialists reasons for increasing the rates of import of such material off the clear reduction in the local product, especially at the cost most of the imported materials are the dollar, which leaves the area and wide as the control of such currency in constant prices of the domestic market.
The price of the dollar has jumped suddenly a few days ago the price of pure 1225 dinars, a figure that could rise in the readings of the scene of economic, indicate that both Syria and Iran may Sttardhan more pressures of international economic, a factor that led to the devaluation of Altoman Iranian and lira Syrian dramatically, prompting businessmen and industrialists and traders in these countries and who are dealing with their Iraqi counterparts to the equation of remittances in dollars despite low values of their currencies communities, which led to increased demand for the dollar in the domestic market to meet the needs of local businessmen, according to the Sam Zaidi trader in the market beautiful, which indicated that the traders from Iran and Syria have begun pressing the Iraqi businessmen in order to speed up the conversion values of financial coverage Tjarathm, stressing that despite low values of Altoman, the lira, but remittances are still indicate that the Iraqi trader is obliged to send the same previous values for these two the two currencies, adding that local markets are heavily dependent on the products of these two countries food or household or other industrial, which may lead to inflammation of the prices are more in the event that supplies goods those countries. and denied the central bank is reported by a number of media about the existence of operations to smuggle the dollar, saying in an interview made by his deputy, the appearance of Mohammed (morning) the invalidity of what some of the media about the smuggling of the dollar to Iran and Syria and exchange currencies forged, Zakir presence machinery media tremendous trying to impact negatively on the Iraqi economy, and seek to reduce the value of the dinar, He pointed out that the central bank has backed up financially he (huge) and he can defend the value of the dinar at any time he pleases., despite denials of the Iraqi Central existence smuggling of currency, but a representative of the World Bank in Iraq confirmed (morning) and the existence of such processes, called the government to intensify its efforts to control it, which he said could affect inflation and lead to a destabilization of the dinar, said Majid picture: there is demand for the dollar in Iraq informally in some cases as a result of conditions experienced by some neighboring countries and the United Nations resolutions that led to the depreciation of their currencies, which led to high demand for the dollar caused higher prices later in the local market.
Despite these increases in the price of the dollar, but the picture said that the central bank and through a package of measures is able to control those highs and minimize their impact on inflation, indicating that the action by a central recently in raising the price of the dinar, four points, and prevent the sale of the dollar, but After a series of precautionary measures will guarantee to control the sale and purchase of the dollar in all of Iraq.
The press release issued by the Information Office at the Ministry of Planning confirmed that annual inflation indicators for the period of the month of January 2011 until January of this year rose by 2012 (5.4 percent) .. Explaining that the Central Bureau of Statistics inflation report was completed for the month of January 2012 on the basis of field data collection "on the prices of goods and services comprising the consumer basket.
He attributed the statement that the report issued by the ministry in this regard, stressed that the reasons for the high annual inflation indicators return to the high prices of rents Alldoralexanah rate (12 percent) ... He pointed out that the general index of consumer prices reached (137.5 percent) in the month of January 2012, recording an increase rate of 1.4 percent from the previous month and 5.4 percent compared with the month of January 2011.
Experts say that the high rates of annual inflation in this way indicates the presence of a considerable disruption in the fiscal and monetary policies, stressing that the increase in the dollar against the dinar negative factor another may lead to higher rates of inflation more than it is now, calling the central bank to intervene decisively to address some of the lapses that can absorb any increase in income people during future periods by the high dollar and increase inflation rates.
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