***** { Reduce dollarization » enhances confidence in dinars

3/2/2014 0:00

BAGHDAD - Mustafa al-Hashemi



Witnessing the domestic market since the eighties and nineties of the last century a decline in confidence in dinars and replacing it in most business dealings internal and external dollar is devoted to the continued existence of this case among the citizens .

And has contributed to this phenomenon is the emergence of the parallel market, which dropped Btatheradtha on the economy through the emergence of dual currency stand out in the business dealings small interior dinar is purchased materials and goods markets , while the purchase of cars and electrical appliances, the completion of transactions major business in dollars, is no reason to put an end to this phenomenon and processed in order to serve the economy.

Economic expert Dr appearance of Mohammed Saleh called in this context, to take measures to reduce dollarization , ( which means giving priority to dealing in dollars to deal with the rest of currencies or gold) , and to raise the value of the dinar because it is covered with excellent cash reserves .

Saleh said in a statement ( morning) that the phenomenon of mistrust Baaltaaml interior of the dinar came Ketbat circumstances experienced by Iraq in the eighties and nineties of the last century , is reason now to take measures , including preventing any business dealings internal to the dollar and restrict external transactions such as travel , treatment, and other , which require the purchase of the dollar.

He stressed that this measure would reduce the impact of the gray market and double the currency in Iraq, where the transactions small among the citizens are in dinars , while we see that commercial transactions and sale of cars and appliances are made in dollars, noting that this case is dedicated continuing lack of confidence in the local currency .

He said economic expert to the need to strengthen the confidence in dinars because he covered cash reserve Excellent gold and foreign currency , and that the current stage requires the reduction of dollarization interior and make the public trust in the national currency , which could be backed up cash in other banks , pointing out that he does not mind it provided, however, that Iraq is witnessing stable policies , and cash reserves continue to rise .

He pointed out the importance of a trade with the neighboring countries in Iraqi dinars instead of the dollar gives a greater incentive to boost the confidence of the ocean is also the regional local currency , noting the possibility of taking this action and raise awareness of the importance of traders dealing in local currency and the reflection of this on the economy of Iraq as a whole .

Referred to the existence of Iqbal foreign investors abroad to buy Iraqi dinar from global financial markets, where they hope that the rising value in the near future as he returned to the circulation of a new global financial markets to cover cash reserve exceeded 80 billion dollars through increased oil production and higher GNP Iraq what provided significant support for BD enabled him to engage in global financial markets for trading.

The Website has embarked on a U.S. economic years since the circulation of the dinar , along with other world currencies , defined as currency trading company registered with the State Department and the Treasury Department , and money for business services.


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