CBI is the rise of the dollar bubble

[patriotic party girl]

26.12.2011 | (Voice of Iraq) - Add comments - Baghdad - Hisham Abdul Wahab - Dar Al-Hayat described the Deputy Governor of the Central Bank of Iraq the appearance of Mohammed Saleh high exchange rate of the dollar in the domestic market for more than a week, b «bubble» price as a result of exceptional reasons caused by the need for Iraqi traders to foreign exchange to finance regional trade, which increased their rates under the new conditions in the region, in addition to the speculation some of them, which led to a huge demand for foreign currency. Saleh said in a statement to «life» that «the dollar exchange rate returned to levels before the rise recently, ie, about 1200 dinars per dollar, after reaching the last week about 1250 dinars». He pointed out that «Central» took prompt measures to fill the growing need on the dollar, was the most important double the sales of foreign currency in the auction, organized by the day to meet the demands of traders and businessmen, having increased their business operations as a result of significant changes occurred in the contexts of trade exchanges between Iraq and neighboring countries, and the establishment of the Iraqi traders play a different commercial result of the repercussions of recent events in the region . and revealed that the «central» sold in two days more than $ 400 million through the daily auction, which helped to absorb a trillion dinars from the local market, pointing out that «Central» Continue to develop the Iraqi market and its need for foreign currency in the context of compliance with the conditions of supervision to avoid operations money laundering, which led to slightly delay remittances. He stressed that a strong currency and the dinar will be covered to protect it in a foreign currency, representing one hundred percent of each local unit of cash. It quoted Iraqi merchants who confirmed that the prices of most commodities did not rise, but demand fell due to confusion that accompanied the commercial activity in the local market expectations of continued high exchange rate of the dollar and fears of rising inflation and adversely affect the purchasing power of the citizen. Saleh was denied in a statement to the media that the rise of the dollar as a result of U.S. withdrawal from Iraq, pointing out that this withdrawal will increase the power of the dinar. He stressed that the regional situation was one of the reasons for the decrease, making the Iraqi trader and broker in the region, as the need of regional trade to finance in foreign currency, bringing pressure on the auction «Central» to provide foreign currency until the market can keep up with additional commercial operations. He pointed out that «Central» now has the highest reserves in its history

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[bamagirl]

Merry Christmas PPG!! Thanks for the post.

[patriotic party girl]

Merry Christmas PPG!! Thanks for the post.

Merry Christmas to you also hope it was a great one

[colts469]

great news. lets do this

[easyrider]

Get it done God' needs his soldiers to do good ASAP.

[Unitedrich]

PPG,

Thank you for this info! Good to see ya, and it looks like things are finally beginning to move in the direction we all want. UR

[Butifldrm]

Merry Christmas PPG! Thanks for the good news.

[So.Cal Dinar]

Back at ya PPG

Merry Christmas

[Dreamin2010]

P PG , UR, merry christmas, good too see you again. Thx for the pos

t ppg

[KNTIME]

Good post.. Thanxs PPG

[Spud]

pointing out that this withdrawal will increase the power of the dinar.

. He pointed out that «Central» now has the highest reserves in its history.

Good stuff!