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Economists: non-adoption of the budget and behind the rise in the exchange rate of the dollar
In place of customer banking Baghdad
Leila Ahmed
02/27/2013
Observers say many reasons behind the high exchange rate of the dollar against the Iraqi dinar during the recent period, in the forefront of not approving the budget, and the policy of the Iraqi Central Bank in monopoly selling currencies on the banks specific. said economic expert Hilal Taan that speculative currency traders in the black market is one of the reasons for the high dollar, as well as that 75% of the currency sold is a treasury remittances shift out of Iraq. He Taan's delay in approving the budget, and not to grant loans, and stop investment projects, all factors that contribute to raising the dollar exchange rate. said economic analyst Bassem Jamil Antoine said investors are turning their money into hard currency in the event of an interruption exchange expenditure on projects, causing in part high dollar, as well as on the central bank is pumping loads of hard currency is less than demand, causing the events of a difference between the price of the dollar on the black market and its price in the Central Bank, adding that the delay in the budget led to delays in investment projects that spend their money within the country. For its part, has ruled out a member of the parliamentary Finance Committee for the Liberal bloc Magda Tamimi be delayed approving the budget caused the rise in the dollar against the Iraqi dinar, confirmed that the mechanism of continuous exchange of investment projects. Tamimi confirmed that the problem of monopoly banks to sell the dollar still list as well as the emergence of people امتهنوا monopoly currency, causing the lack of access on a regular basis to the citizen.
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In place of customer banking Baghdad
Leila Ahmed
02/27/2013
Observers say many reasons behind the high exchange rate of the dollar against the Iraqi dinar during the recent period, in the forefront of not approving the budget, and the policy of the Iraqi Central Bank in monopoly selling currencies on the banks specific. said economic expert Hilal Taan that speculative currency traders in the black market is one of the reasons for the high dollar, as well as that 75% of the currency sold is a treasury remittances shift out of Iraq. He Taan's delay in approving the budget, and not to grant loans, and stop investment projects, all factors that contribute to raising the dollar exchange rate. said economic analyst Bassem Jamil Antoine said investors are turning their money into hard currency in the event of an interruption exchange expenditure on projects, causing in part high dollar, as well as on the central bank is pumping loads of hard currency is less than demand, causing the events of a difference between the price of the dollar on the black market and its price in the Central Bank, adding that the delay in the budget led to delays in investment projects that spend their money within the country. For its part, has ruled out a member of the parliamentary Finance Committee for the Liberal bloc Magda Tamimi be delayed approving the budget caused the rise in the dollar against the Iraqi dinar, confirmed that the mechanism of continuous exchange of investment projects. Tamimi confirmed that the problem of monopoly banks to sell the dollar still list as well as the emergence of people امتهنوا monopoly currency, causing the lack of access on a regular basis to the citizen.
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