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BatmaninIraq
03-26-2016, 08:17 PM
Economist: speculators are behind the rise in the dollar's exchange rate against the dinar

26/3/2016Specialist confirmed the economic Dergham Mohammed Ali regard, that the rise in the US dollar exchange rate against the Iraqi dinar exchange rate caused by the monopoly of speculators.
Said Mohammed Ali, said in a statement Saturday that "the recent actions of the Central Bank, which includes checks of import certificates and monitor sales dollar more accurately and reduce sales of the dollar were not compatible with the interests of many, prompting speculators to raise the exchange rate in order to put pressure on the central bank to ease of its procedures and an increase in dollar sales ceiling. "
He explained that "the bank no longer has the flexibility to allow it to sell larger quantities due to the decline in revenues in dollar based on the decline in oil prices," stressing that "audit procedures that should have been imposed since 10 years and more to keep the foreign currency assets."
Muhammad Ali also pointed out that "these severe measures if it was previously limited to the dollar amounts smuggled out of the country and revealed thousands of unnecessary transfers that have contributed to the smuggling of billions of dollars in Iraq."
Dollar exchange rate has risen against the Iraqi dinar in recent days to more than 127.500 thousand dinars for every US $ 100.