Economists: Central lifted the dollar to cope with the financial crisis

26/04/2015 12:16




Recent central bank measures for the sale of the dollar at auction helped raise the value of the dollar against the dinar.

BAGHDAD / Obelisk: Download a number of experts and specialists in the financial and economic affairs, the central bank responsible for the local currency degradation and raising the US dollar exchange rate, the grounds contain the financial crisis afflicting the country, while warning of rising inflation in the domestic market as a result of the continuing decline in the dinar exchange rate against the dollar.

He says the economic and investment commission member of the parliamentary Majid Chenkali, that "the recent central bank-specific procedures to sell the dollar at auction helped raise the value of the dollar against the dinar, where he cut his sales pretext to contain the financial crisis faced by the country, in addition to the presence of mafia operating within the central trying to inflict damage the national currency for their own personal interests. "

He Chenkali according to the agency "dinars", that "the central bank must take supportive action of the Iraqi dinar and the fight against those who tamper with the security of the national economy, because the interest of the country above all else."

The student Chenkali, the government speed up the development of the banking and industrial sector especially what we observe these days there are a significant rise in the dollar against the Iraqi dinar ", calling for" legislation Investment Act helps to bring international companies to develop Iraq's infrastructure. "

With the parliamentary finance committee attributed, why drop the dinar exchange rate against the dollar to decline in fiscal revenue belonging to the state from oil sales, indicating that the oil was sold at more than $ 100 a barrel and today reached its price to below $ 50 and this means that revenue fell by 50%, which impact on the national currency exchange rate. "

Haider said that his committee "discussed with the Governor of the Central Bank on the Keywords main reasons for the decline in the dinar exchange solutions effective for the return of stability of the price," adding that "the central bank will take new measures to maintain the hard currency and the return of stability of the dinar against the dollar."

He said, "The measures will include open outlets to sell the US dollar after the lack of display in the local market and its high price will contribute to a decline of the dollar, stressing that the dollar selling price pursuant to Article 50 of the budget reflected negatively on the Iraqi citizen Madf Finance Committee to call for pumping the dollar in the market."


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