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Who controls the dollar prices ?!


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Who controls the dollar prices ?!

 

 

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Author: Yasser incumbent

14/06/2015 0:00

Are attempts and measures succeed in stabilizing the exchange rates of the dollar and that controls determine exchange rates ?! This is what will answer him this conversation with one of the friends. 

Tell me Iraqi businessman resident between Erbil and Turkey met him in his office in Arbil during a short visit to Kurdistan last week - about the reasons for the fluctuation dollar exchange rates against the dinar and the controlling force in identified, is supposed to play a theory supply and demand their role is recognized but identified gaps was able to control.   

I go my friend Mr. Jaafar as the situation which recently acquired from the truncated 8 percent from the Deposit tax and Alcomerk had exploited by cashiers contributed to a deepening crisis upward, as well as a decrease in the supply of foreign exchange by Central Bank which set the budget law to paragraph 50 of them, which was the first spark for the rise of the progressive. 

And the impact of this pre-deduction in advance of the value of remittances, he said: simple calculation, the deduction of 8 percent means for Asravien that the price set for the category of $ 100, which is equivalent in 1192 will equal the equivalent of of $ 92 and a difference of 8 percent added to the price, which led to a steady increase exchange rate, this price manipulation led to increasing trade price. 

Note that the deduction teams clinch share of the citizen, this culture devoted to the Abavien, otherwise what's the difference between a tax deduction and Alcomerk at incoming goods What are deducted from pre same percentage. 

attempts and measures taken by private banks to sell the fifty dollar price of 1193 dinars to support and enhance the action of the Central Bank of Iraq to stabilize the exchange rates, and the calls and appeals to banking companies to support these measures without Mujibur! What do you mean by this phenomenon then? 

The answer is simply that the strength of banking companies are in control of the money market despite the fact that all they have does not constitute a tenth of thousandth of what is owned by Bank of currency reserves, and this requires a review of decisions and the creation of bumpers for the control of cash in the market and expected his subsequent hikes for many reasons. 

eight central bank recently issued new instructions stipulate that responsibility for the provision of securities and cash foreign for remittance of foreign currency, and this is contrary to the principle of the free movement of money and the implications on foreign investment, which deals in all of the obligations, we believe here Bdharoh re considering such a procedure because it will increase the pace of ascent.

 

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