View Full Version : Call to support the dinar transactions instead of the dollar

02-10-2015, 08:14 PM
Call to support the dinar transactions instead of the dollar

2/10/2015 0:00

High hard currency «spongy» and return to a normal level
BAGHDAD - Mostafa Hashemi

Mokhtassan predicted that the dollar exchange rate back to stability and Bmadlath normal soon after work alternatives and solutions Sulaima.oukal banking advisor Dr. Essam Mahouelle that the rise in the dollar exchange rate is the rise of temporary squishy and will return to a normal level, but it will take two to three months beyond the border.

The dollar rate in the past few days, due to specify a dollar amount of $ 75 million at a time when the markets absorb about $ 300 million a day, to rates seen by those with large low-income compared to their potential and resources Finance Limited where he weighed in buying and selling and the general commercial traffic and daily transactions.

He said in a statement the "morning" that the central bank sober institution able to handle such an imbalance that got by binding to sell a specific dollar amount to the local markets, noting that Iraq is a rich country have not stopped by revenues derived from the export of oil, despite the low price of a barrel globally, stressing that prices will return to their rates normal after a period of time passing.

He stressed that proper planning to spend would facilitate the recovery of the country's economy, despite the financial conditions facing, pointing to the possibility of borrowing from the inside bonds and remittances instead of borrowing from international financial institutions, as well as solutions and actions can be large economic mentalities invented and proposed to the executive bodies to be applied in order to pass the Iraq of this temporary crisis.

banking consultant, said that the reactivation of the productive sectors would reduce the effects of low dinar exchange rate against the dollar since he final nutshell reduces imports of goods that can be produced and manufactured locally, which costs a lot of money can be employed and invested in the revitalization of these sectors.

He called Mahouelle not to buy the dollar and dealing in the sale and purchase and reliance in daily trading on the dinar because it will reduce demand over supply Thus, the abundance will contribute greatly to reduce the exchange rate, stressing the need to support the dinar in this economic phase through which Iraq.

The number of banking companies stopped selling the dollar for fear of achieving the losses caused by the instability of foreign currency exchange rate at the time of retreat where Iqbal citizens buy Atar.bdorh said economist Dr. Ali Anbure: that such a disruption in the process of exchange rate due to the circumstances of the country, along with Article 50 of the budget, which is the main reason for the rise in the dollar exchange rate against the dinar, which compelled him «central bank» to sell about law a third of the amount that was sold before the budget bill while the market was more accommodating.

In adding Anbure "morning" This fluctuation in the price will continue for a period until the gap back between supply and demand to its normal size, adding that this imbalance was not expected because of the stability of the dollar exchange rate during 2013 and 2014.

The central bank is responsible for maintaining stability and rates of exchange rate of foreign currency against the dinar.

02-11-2015, 03:08 PM
we may see IQD bank accounts being made available outside Iraq very soon