a lil tidbit

[jimpickles]

http://www.iraqhurr.org/content/article/24107483.html

[getherdone]

13.05.2011

Ahmed al-Zubaidi

Seen speculation the U.S. dollar during the past few days, a rise not seen in the forex market in Iraq for more than two years, after the Iraqi Central Bank has taken a decision to reduce the volume of trading the U.S. dollar during the currency auction day to about quarter of a million dollars after the currency exceeded the amount raised in the previous period million.

Experts have warned economists said that such disturbances in the high dollar exchange rate which exceeded the 1200 dinar after it had been worth no more than 1180 dinars, may lead to increased wave of inflationary finance, especially in market speculation the current, which has long sought the central bank to make it stable during the Control rates daily circulation of the dollar in the market for Bids for currency.

The expert says economic Falah Hassan Alwan said there are consequences of the "dangerous" will be reflected on the Iraqi reality of the Economic and Social Council if it continues the current rise without taking the central bank re-introduced a measure by the dollar exchange rate to what it was.

To that between an economist at the CBI on behalf of Abdel Hadi that the causes of the rise came on the back of the bank was forced to take action through which the brokerage firms settling accounts on the tax, because most of those companies were evading payment of taxes owed Bzmtha, stressing at the same time that the This rise will be temporary and soon will return stability to the market, financial speculation, describing a bank as being accurate.

At a time after which this procedure on the market, financial speculation and his companies, but it was implications of a positive to some citizens who took advantage of this opportunity to make a quick profit, and stresses Auf Abdel Rahman is the owner of a money transfer companies and banking in Baghdad said there captivated the imagination of some people to convert their savings from dollars into the Iraqi currency thus taking advantage of currency exchange that has occurred.

More details in the audio file:

[VIZIOIRAQI]

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