Posted: April 14, 2012
Saturday, April 14 / April 2012 15:44
Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that the high price of the dollar against the dinar is dominated by the Bank and the coming days will witness a significant decline.
Saleh said Iraq told every [where] the day, that “the cause of the price rise of the dollar against the dinar goes back to the regional situation plaguing the neighboring countries, and these conditions Oirt and a negative impact on the currency market in Iraq by increasing the demand for the dollar.”
He added that “the Bank noted in the last term increase in the purchase order dollar, forcing him to request data taxation of traders [Clearance tax], but traders Tlkoa to pay their taxes because of evading them, thus they have to withdraw foreign currency from the market, which led to decrease the amount found in the market after the increase in demand that has led to the increase of the price. “
And the favor of that “budget had a negative impact also on the Iraqi market because of its size, which led to financial increased demand for foreign currency.”
He pointed out that “the smuggling of currency out of the country also have a role in the increase of the dollar in the Iraqi market,” noting that “the smuggling operations have been active after the imposition of economic sanctions on some neighboring countries.”
The dollar exchange rate in the local markets witnessed on Tuesday its highest level in front of the dinar in nearly four years, reaching U.S. dollar exchange rate per 1320 dinar, recording an increase of 90 dinars compared to last week, and 154 dinars, more than 13% of the price specified formally in the Central Bank, a 1166 dinars per dollar.