Sale of crude oil in local currency
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Sale of crude oil in local currency
Admin Tue Sep 24, 2013 5:57 pm
09/25/2013 12:00 AM
BAGHDAD - morning
State economic researcher said Adel: that of Iraq to sell crude oil in local currency depends on the stability of the general situation of the country as well as the stability of the dinar exchange rate and registered as a global currency.
She told the (morning) that the moment is appropriate to take such a step because the stability of the currency is linked to the stability and general economic conditions of the country, as well as any that gets fluctuation in world oil prices will directly affect the value of the Iraqi currency.
She noted that the global registration of the dinar as the currency makes it vulnerable to speculation and subject to fluctuation between high and low price in the global markets, including may reflect the real value in the internal business dealings in particular, and he was covered with 80 billion dollars.
And was a member of the Economic Commission the Nora Albjara parliamentary suggested earlier sale of crude oil in Iraqi dinars instead of dollars, to support the local currency and increase its value against foreign currencies.
The Bijari indicated that the central bank does not agree to the sale of oil in Iraqi dinars for fear of fraud in the local currency.
http://www.alsabaah.iq/ArticleShow.aspx?ID=55078
BAGHDAD - morning
State economic researcher said Adel: that of Iraq to sell crude oil in local currency depends on the stability of the general situation of the country as well as the stability of the dinar exchange rate and registered as a global currency.
She told the (morning) that the moment is appropriate to take such a step because the stability of the currency is linked to the stability and general economic conditions of the country, as well as any that gets fluctuation in world oil prices will directly affect the value of the Iraqi currency.
She noted that the global registration of the dinar as the currency makes it vulnerable to speculation and subject to fluctuation between high and low price in the global markets, including may reflect the real value in the internal business dealings in particular, and he was covered with 80 billion dollars.
And was a member of the Economic Commission the Nora Albjara parliamentary suggested earlier sale of crude oil in Iraqi dinars instead of dollars, to support the local currency and increase its value against foreign currencies.
The Bijari indicated that the central bank does not agree to the sale of oil in Iraqi dinars for fear of fraud in the local currency.
http://www.alsabaah.iq/ArticleShow.aspx?ID=55078
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