Economic attributes the decline in value of the dinar to determine the central bank sales of dollar ceiling

الاربعاء ,04 شباط 2015


04/02/2015 11:25

BAGHDAD / Source News / .. attributed the Vice President of the Economic Information Center economist haven secretary, rising dollar exchange rate of the dinar to determine the central bank sales of the roof of the dollar.

He said in a press statement I followed Agency / Source News /, that "the general budget for the current year included a clause obliges the Central Bank determines sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million dinars, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and input Alkmarki. "

He stressed that "this paragraph reflected negatively on the exchange rate, especially since the central bank was selling daily more than $ 150 million in the auction to banks and owners of companies, meaning that the hard currency display in Iraq, according to the general budget has been reduced, which will pay speculators to buy the currency difficult and causing up its exchange rate against the dollar. "

"The budget law committed Central Bank claim banks and companies participating auctions provide the introduction of imported goods and commodities documents through the border crossings with the tax settling accounts data and input Alkmarki within one month from the date of entry bid, but are punished the bank or company that does not comply with the instructions, and removed from the participants record in daily auctions in addition to financial and administrative penalties. "

He stressed that "Article 50 in the budget need other supportive laws in order to contribute to the preservation of the Iraqi dinar exchange rate against the dollar, including the laws and procedures that contribute to the revitalization of the sector national productive, both public and private leads to a decline in imports and a low level of demand for the dollar, and thus the prosperity of production Local and create the atmosphere of competition between national and foreign investment in the local market. "

He pointed out that "the dollar's exchange rate against the dinar will continue to climb because the central bank is obliged to apply the requirement to provide documented import data Kmarkia by the parties participating in the auction currency."

And saw the Iraqi market in recent days, a rise in the dollar against the Iraqi dinar exchange rate.

Economic Committee in the House of Representatives and attributed this rise in the dollar exchange rate to the number of decisions taken by the Central Bank during the past few days to support economic development.


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