Parliamentary Economic Committee calls to amend the central political and Suhail, asking him to address the dinar exchange rate fluctuations

13/05/2013 13:35


Range Press / Baghdad

Confirmed the Economic Committee, said on Monday that fluctuation exchange rate is an indication of the deterioration of the economic and increased poverty, and called upon the government and the House of Representatives to intervene to modify the policy of the Central Bank of Iraq, called the First Deputy Speaker of Parliament Qusay al-Suhail, manage the central bank to take measures capable of addressing the fluctuating exchange rate Iraqi dinar against the U.S. dollar.

A member of the Economic Committee Abdul-Hussein Abtan, during a press conference, held the parliament building, and attended (Long Press), "The dinar exchange rate in 2006 amounted to 1160 to the dollar against the dinar, and was a reserve central bank at the time of the coin about $ 10 billion, but today Valahtaati cash amounted to 74 billion dollars, but the exchange rate has risen to 1,300 dinars in the markets. "

Abtan said that "the low exchange rate of the dinar against the dollar Index is a serious deterioration of the Iraqi economy, as well as increase the problems of the poor and low income earners," and urged the government and parliament to intervene to modify the policy of the Central Bank in this case. "

For his part, the Deputy Speaker of Parliament Qusay al-Suhail said in a statement received (range Press) copy of it, during chaired a meeting of the Finance Committee in the House of Representatives in the presence of Governor of the Central Bank and Agency Abdul Basit Turki, said that "fluctuating exchange rate of the Iraqi dinar against the U.S. dollar will affect negative impact on the life of the individual Iraq. "

Suhail said that "the members of the Finance Committee to put forward their suggestions and recommendations regarding the developments that have taken place in the sale and auction style and method of the dollar", stressing the need to "take methods to prevent the exploitation of some of the money of the Iraqi people traffickers to the central bank's auction.

He said Suhail that "the central bank governor and agency Abdul Basit Turki newborn feet while attending a meeting, a review of the policy and the Bank's work during the last period, particularly with regard to auction the bank and procedures established by the bank's management to eliminate the fluctuation in the exchange rates of the dollar."

Has seen the Iraqi dinar exchange rate against the U.S. dollar volatility is unprecedented since the beginning of the month of May and so far, what Alone Iraqi Central Bank to take action to reduce slumping, which directly impact on the Iraqi economy.

It is noteworthy that the Iraqi Central Bank hold daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a certain commission.

Iraqi market has seen a rise in the exchange rate of the dinar against the dollar reached in some cases to 1300 dinars to the dollar, the highest rate up to the exchange rate during the past two years.


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