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The continuing decline in Iraq Dinar against the dollar and fears of its impact on the living standards of citizens

Sunday, 08 April 2012 10: 35

{Baghdad: Euphrates news} report...
Iraq Dinar has hit a new low against the US dollar, bringing in local markets to 126, 5 thousand dinars for paper 100-dollar bills.

Brokers said banking stores owners to Agency {Euphrates news} to "clear the Iraqi dinar is declining and this will lead to the loss of citizen confidence in the Iraqi dinar to rise against the dollar over the past years.

They said the relatively low value of the US dollar Iraqi dinar continuing rising daily as the decline began with the number one/one/witness after namera deterioration in price.

He feared that banking stores owners significant loss that may have been incurred as well as citizen as a result of this continuing decline of the dinar.

Notes banking shop owner Abu Nasser that the decline in dinar concern us we don't know whether that would control the Central Bank or that it will continue to decline.

He said the Central Bank policy is not clear nor know how pumping which can control the exchange rate in the market.

With shop owner Mohammad Karim says banking that there are problematic began to emerge in the fall in the dinar as most citizens have debts and some want the amount fixed price is called the dollar while the other party wants payment in Iraqi dinars.

He noted that this would lead to some problems, which in turn affect the owners work as banking movement currently in the market between the flux.

Citizen Jassem Alwan, criticized the Central Bank for lack of control on the market price of political blocs overloaded because of liability and disputes that led to the rise of the dollar.

He said the Iraqi dinar losing value and this adversely affect employee and the ordinary citizen because articles will rise its prices because the dollar is imported and this will lead to lower living standards for citizens.

And called on the Government to move quickly to save the situation because the price $100 category priced 127 000 dinars arrived after 120,000 to 119 000 and this price you received did not arrive in years.

The Economic Commission at Parliament hosted the Central Bank Governor, who promised to turn over control of the Iraqi dinar exchange rate and return to the previous $120,000 dinars per sheet $100 class