Central and the procedures of imported goods behind the decline in the dinar exchange rate

09/03/2015 10:56

BAGHDAD / Source News / .. Iraq has witnessed in recent remarkable rise at the US dollar against the Iraqi dinar, where he arrived the exchange rate to 1229 dinars to the dollar.

Economists attributed this increase to the measures taken by the central bank to stop the daily auction to sell the currency, as well as the absence of domestic production and the adoption of Iraq on imported goods in all areas.

A member Najiba Najib Economic Commission told / Source News / The most important reasons for the high dollar exchange rate against the dinar is the result of actions taken by the Central Bank of Iraq in the auction currency where inventory sale on applications submitted to the bank responsibility in accordance with the conditions and controls, indicating that the target prevention of smuggling of currency abroad and money laundering.

She Najib: The central bank to hold a positive, especially that Iraq needs cash to cover the budget deficit, and the government moving toward the adoption of important laws economic Kaslah and customs tariffs and encourage domestic production.

She Najib: that this rise will be temporary and for a limited period, asserting that create big problems for the simple citizen, the Central Bank claim that the limits of smuggling and money laundering operations in other ways.

For his part, said economist Amer slain Agency / Source News / The Iraqi economy is deteriorating and the lack of local production and dependence on imports, in addition to that there is a significant delay in approving the budget and the lack of domestic liquidity, all of these factors lead to high demand for the dollar and ease of leaving the country .

He predicted Jeweler: The rise of the dollar exchange rate of the dinar will continue to the next stage as a result of import and the reluctance of investors in the last two months for the shares traded in the currency market.

He held the Finance Committee member Abdul Qader Mohammed, traders responsibility rise in the dollar rate against the local currency in the country, during the past few weeks, indicating they Etcheron currency on the black market and not from the central bank.

Added Muhammad: that the central bank made a serious mistake when inventory sell the currency on the government and private banks and banking offices, leaving traders to buy the currency on the black market, including causing a rise Atar.anthy / b



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