Iraqi markets will not be affected by rising global value of the dollar

11/30/2014 0:00

  BAGHDAD - Farah pumice
In light of the euro zone faces the risk of a deflationary and slowing economic growth in China and some countries of the world, and the fluctuation of crude oil prices, led to a rise in the US dollar value of what a slight change may occur in the exchange rate of the Iraqi dinar against the market without it affected.

In this regard, said Dean of the Faculty of Business and Economics at the University of Mustansiriya Dr. Qusay al-Jabri said that "the exchange rate as possible being influenced, but calculated changes and the central bank can intervene in the currency auction through available from the reserve and adjust the rates of exchange."

 And "morning" that the goals the main set by the central bank is to maintain the stability of the dinar against the dollar by currency auction, likely the lack of effects on market prices despite the rise in the dollar, but it could lead to inflation, but it does not affect the standard of living of citizens.

And experiencing the euro zone deflationary risks during this period, which has led to high rates of inflation as a result of the events of the rapid crude drop in global markets and slowing economic growth in many countries of the world, especially China, as well as the launch warnings yesterday the first Thursday of the downside risks for reform measures for the euro zone, in the absence of a new outlook on growth.

As for Iraq's imports and its dependence on foreign trade in the provision of services and goods, and saw Al Jabri that the decline in prices of goods and commodities in the world due to lower oil prices may affect the balance of payments are affected exports negatively and imports positively, especially that Iraq is linked to countries outside of the terms of the export of crude oil thus affected by the decline and rise.

He said al-Jabri said Iraq imports all its goods and its goods and requirements, the impact on the trade balance depends on the amount of changes between exports and imports, especially as it may not be affected in a very large, as the two sides Satatran of exports in terms of the country's dependence on crude oil only in the export and there is diversifying also, prices are governed by market Alaalmih.wabguet Organization "OPEC" last Thursday oil production rates as it is (30 million barrels per day) without reduced in order to control the US shale oil production, which led to a decline in the price of oil to settle at $ 69 a barrel.


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