Iraqis trust the dollar and preferences on the local currency
29/04/2012 13:47:00
The independent Iraqi news agency / Baghdad - handsome as ... most Iraqis would prefer to deal in dollars rather than local currency reflecting the lack of confidence in national currency by the citizens. Experts blame this phenomenon to the large fluctuations in the value of the dinar since the nineties, which was born out of fear and concern among a lot of loss.
Prevailed since 2003, in the U.S. war on Iraq, the phenomenon of large-dollar deal, at the state level and the individual alike.
According to Zaki, Hamza from the banking district of Kadhimiya today that it is easy to conduct foreign currency anywhere in the shops, whether you want custom or even street vendors and owners (stalls) on the sidewalks. Hamza and refers in this regard to the enormous proliferation of banking stores in Baghdad and other cities after it was limited in number in the nineties of the last century.
But what is worrying, according to Hamza that most Iraqis prefer to deal in dollars instead of the dinar and that the desire for a very large acquisition reflects the lack of confidence in national currency by the citizens.
This is because an activist in the finance and banking Ahmad agent to the high prevalence of fluctuations in the value of the dinar since the nineties, was born in fear and concern among many of those who fear the loss in the future if Aqtnoa the local currency.
Ahmed Kadhim and works in the banking business wandering in the streets, like a lot of young people who sleep on the ground in the crowded shopping malls is holding in their hands (intensities) banknotes. Because of the buying and selling direct, are so many of the owners of the profession to theft and fraud, as you pass through this way a lot of counterfeit currency into the market.
The support notes Ahmed, who works in a market in Baghdad as a beautiful (coin bank), the number of counterfeit currency encountered every day, it was back to where the experience taught him caution and precision caused him after classes counterfeit losses last year.
Said Abu Ayman Kubaisi of Shorja market in Baghdad, said Iraqi traders and owners of stores would prefer the dollar to dinar for technical reasons and also for security. It strengthens the dollar in Iraq, the sources of goods in favor of the dollar, especially sources outside Iraq.
According to the Secretary of the Economic researcher Luqman, the prevalence of the dollar between the business community and industry contributes to the erosion of the value of Iraqi dinar, which has seen a recovery in value since 2003. But Lukman, the dinar is expected to rise significantly if the dust of the security situation in addition to significantly increase the production and export of oil.
The number of shops licensed banking in 1998 in all parts of the capital Baghdad, 360 offices, but now spreading in the hundreds in every city and province. And prefers to engineer Lamya Hussain convert part of her salary, which is equivalent to about one thousand five hundred dollars, to the hard currency as deposited in a bank.
According to Lamia, many Iraqi officials have begun to walk with it and prefer the dollar as a secretary of the savings for them. According to social researcher Laith al-Samarrai, the luster of the dollar is unmatched by any glitter in Iraq.
Samurai that due to the economic blockade, which passed in Iraq, where the dollar is of great importance and is difficult to obtain by the citizens because of the low currency to a large extent.
At the same time, many of the unemployed found in banking in the street provides a way of livelihood for them for a living.
For his part, continues to Abu Ahmad Najafi of Shorja commercial center of the capital Baghdad, is confident of dealing with the Iraqi dinar due to changes in value on an ongoing basis and the fear of the economic and political volatility that can occur suddenly.
But Serafi morning Farhood (Khrih Business School) believes that the legislation of laws governing the work of banking offices is very necessary, an effective way to combat the phenomena of money laundering and fraud. But that will not be enough - according to Farhood - to raise the value of Iraqi dinar.
Farhood and calls to the influential role of the state in reducing the dominance of the dollar, which make the Iraqi dinar value ranges on for years despite rising oil prices. According to delete the zeros Farhood will contribute to the promotion of dealing in dinars.
The Central Bank of Iraq announced that the U.S. dollar accounts for almost 40 percent of local trading http://translate.goo...ical/16796.html
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