Iraq: Economists claim to support the central import in euros to meet the depreciation of the dinar against the dollar

[carlablum]

Iraq: Economists claim to support the central import in euros to meet the depreciation of the dinar against the dollar

13/04/2012 17:45

Baghdad, April 13 / April (Rn) - The number of economists support the Iraqi government to import to meet the crisis, euro depreciation of the Iraqi dinar against the U.S. Dollars.

Money The economist said the teaching at the University of The Hague, Netherlands Full Sajid told the Kurdish news agency (Rn) that "the Central Bank of Iraq is invited to solve the latest crisis to focus the euro currency import and work to address the serious to reduce the demand for the Iraqi dinar."

He explained that "the deterioration of the Iraqi dinar dreadfully during the last week, indicating the absence of a balanced policy of the Central Bank through which to support the monetary value of the Iraqi dinar."

He pointed out that "the volume of trade exchange with Turkey's annual $ 12 billion the government has recently announced it is seeking to lift it to 13 billion dollars and is supposed to be dealt with exclusively in euros Turkey to create a balance in the main foreign currencies."

For his part, said a member of the Iraqi market center OS Ibrahim's (Rn) that "the decline of the Iraqi dinar against the dollar is not a bubble as the Central Bank of Iraq, but the problem of not taking economic advice to deal with the bank's point of view things are one."

He added that "it was better for the Iraqi Central Bank to help create a balance between buying the dollar and buy the euro and the establishment of a committee to organize the purchase of the dollar and not to rely on randomauctions."

He pointed out that "the Iraqi government in the event of tips or advice provided certain it does not mean at all interfering with the Central Bank of Iraq."

In turn, the economic expert member of the Chamber of Commerce Iraqi Rumaithi Hamel's (Rn) that "the trade exchanges between Iraq and Turkey Tsuiqiqh Zlt the nature of a consumer from one party and can not be relied upon as a savior to get rid of the crisis, the appreciation of the dollar against the Iraqi dinar."

He added that "the central bank is responsible for the surge of the U.S. dollar against the Iraqi dinar and the weakness of the business andinvestment during the next week."

He pointed out that "the central bank to deal with any economic advice that it shows in his work and this is absolutely not true. All banks in the world and take the economic views seriously and work."

The price of the dollar has seen in recent days, during which he made notable gains amounted to U.S. dollar exchange rates of 132 000 dinars per $ 100, while the central bank set the exchange rate of 117 thousand dinars for every $ 100, an increase of 15 thousand Iraqi dinars.

In turn, the deputy governor of the Central Bank of the appearance of Mohammed's (Rn) that "the central bank policy throughout the period preceding successful in supporting the value of Iraqi dinar, but the problem is the continued smuggling of hard currency from Iraq to Iran and Syria, and not to deter this phenomenon by government agencies."

para, dolar, money He added that "the draft balance between activation of the dollar and the euro in Almzadt is not practical and are having difficulty in that most of the Iraqi traders dealing in dinars, not euros."

He explained that "the views Mahholh you drag a dollar coin worth three times the actual needs of the market, which is called the central bank to develop new regulations for the sale of the currency caused prices up temporarily, but a bubble in the way of the demise."

The parliamentary Finance Committee had warned earlier in the Secretariat of the Council of Ministers of trying to dominate the monetary policy of the Central Bank of Iraq and curbing the powers of the province, noting that this was a violation of the constitution and has serious consequences on the Iraqi economy.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.

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[one2one]

this last week was a real eye-opener for the economists in Iraq :

lowest IQD value in 4 years---versus the USD

[zigmeister]

Great article! This is getting interesting. Thanks.

[Danan]

Very interesting. I want it to just RV and get it over.

[GinaG]

Does anybody think Shabbs job is done, and now he is wanted else where to fix their mess up as well? Just asking.

[zigmeister]

Does anybody think Shabbs job is done, and now he is wanted else where to fix their mess up as well? Just asking.

Its hard to say, last week I would have said no way. But yesterday and today, I would say possibly.