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Iraq: economists claim to support import euro face depreciation of the dinar against the dollar

13/04/2012 17:45

Baghdad, April 13 (aknews) –
a number of economists called on the Iraqi Government to support import euro crisis depreciation of the Iraqi dinar to USD.



Economist and is teaching at the University of the Hague Dutch Sajid full news agency of Kurdistan (aknews) "Central Bank of Iraq is invited to resolve the latest crisis on euro currency import concentration and action to address serious Iraqi dinar demand reduction."

"Iraqi dinar alarmingly degradation over the past week and is an indication of the absence of a balanced policy of the Central Bank can support the value of the Iraqi dinar cash."


He noted that "the volume of trade with Turkey annual total 12 billion dollars and the Government recently announced that it sought to raise it to $ 13 billion and is supposed to be dealing with Turkey in euro exclusively to create a balance in the currency the Chairperson".


Member of the Center, said the Iraqi market for wickramatunga (aknews) that "Iraqi dinar declines against the greenback not bubble as the Iraqi Central Bank said, but the problem of the introduction of economic and bank handling tips with things one viewpoint".


"It was worthwhile to the Central Bank of Iraq to create a balance between buying the dollar and buying the euro and the founding of a Committee organized to buy the dollar and not rely on random auctions".


He noted that "If the Iraqi Government submitted certain advice or tips, this absolutely does not mean interference in the Iraqi Central Bank action."


In turn, Economist, Member of the Chamber of Commerce of Iraq Hamel Al rumaithi l (aknews) "commercial exchanges between Iraq and Turkey tsoikikh which reinforced the unilateral nature of the consumer cannot be relied upon as the Savior for the disposal of the high value of the dollar before the crisis, Iraqi dinar".

"The Central Bank was responsible for the soaring US dollar to Iraqi dinar and the weak business investment during the next week."


He noted that "the Central Bank handles any economic advice in work and show that this is not true at all, all world banks take economic views seriously and work".


The dollar has seen significant gains in recent days, during which the price of the dollar amounted to 132 thousand dinars for every $ 100, while the Central Bank Exchange b 117 1,000 dinars for every 100 dollars, an increase of 15,000 dinars.


In turn, Deputy Central Bank Governor Mohammed Saleh for appearance (aknews) "Central Bank policy throughout the period preceding successful in supporting Iraqi dinar but the problem is the continuing smuggling hard currency from Iraq to Iran and Syria and not deter this phenomenon by governmental organs".




"Project activated balance between the dollar and euro in almsadt are not practical and difficulty that most traders dealing in Iraqi dinar and not the euro."

"Inter mhaholh you drag its dollar value tripled from actual market needs, which called for the Central Bank to develop new rules for the sale of currency caused prices temporarily but bubble on the way to extinction".


The parliamentary Finance Committee had earlier warned the General Secretariat of the Council of Ministers of trying to dominate the monetary policy of the Central Bank of Iraq and curb the powers of counties, saying it violates the Constitution and dangerous consequences on the Iraqi economy.


And boils down to the Iraqi Central Bank tasks to maintain price stability and the implementation of monetary policy, including exchange rate policies and foreign exchange reserves management and regulation of the banking sector.