Parliamentary Finance: the issuance of bonds by $ 5 billion contributed to reducing exchange rate

04/07/2015



BAGHDAD / JD / .. the parliamentary finance committee confirmed, that the government's approval to issue bonds worth $ 5 billion contributed significantly to lower the dollar's exchange rate against the dinar because it curbed the role of speculators in the market, as pointed out that there are several reasons led to the deterioration of the currency local, likely stability of the exchange rate at 1220 dinars to the dollar.

A member of the committee MP Jabbar al-Abadi told / JD /: "There are several reasons led to the rise in the dollar's exchange rate against the dinar in the last period, including a lack of revenue and increase demand for the dollar from the merchants and travelers, as well as speculators in the market," he said, adding that the central bank was restricted specific amount of sales imposed on him in the general budget in Article 50 which is the central bank to sell $ 75 million in its daily auction only. "

"What made there a shortage of hard currency in the market and in the light of the growing demand dollar exchange rate has risen," noting that the central bank now dollar amount sold has increased even reached more than $ 290 million, making there a sharp drop in the price of grade because he It has been able to meet the market need of hard currency. "

"The Cabinet approval to issue bonds worth $ 5 billion is the other, which contributed to reducing the dollar's exchange rate against the dinar, because it curbed the role of speculators in the market," pointing to the exchange rate might stabilize for 1220 dinars to the dollar, and that's a good thing to check. "

And saw the dollar rise gradually against the dinar in the last period until it reached to 1,500 dinars to the dollar.


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