Economists: the central bank set a new price of the dinar against the dollar

dinar and dollarsjune2011

Observers expect in economic affairs that the Iraqi dinar has a promising future, especially after the exit from Chapter VII, so it requires the central bank to take bold steps to work on identifying a fixed price of the dinar against the dollar through the auction of currency to avoid volatility continued in the dinar exchange rate, as a student a member of the Economic Committee deputy parliamentary Mahma Khalil, the central bank set a new price of the Iraqi dinar against the dollar coin, there must be a real rate of the dinar.

Khalil said: The political maintaining the currency and dinar Iraqi task of the central bank, and the signals that we observe globally and economically, that there is a future for dinars, adding: may not be the exchange rate of dinar against the dollar per (1300) or (1200) Iraqi dinars, because this Price is when the balance was $ 10 billion, and today the balance of Iraq’s sovereign (76) billion dollars.

continued: political Central Bank to keep the bank is not correct, call the bank that there will be forces of Iraqi dinars, because what exists of the dinar, however, citizens of the Iraqi equivalent of the real price market, calling for the bank to invest the power of the dinar after the withdrawal of Iraq from Chapter VII, and today the central bank is obliged to be a new rate against the dollar.

He pointed out: that, because all Aldaat entering Iraq in dollars, and must be no price true of the Iraqi dinar, because the strength of JD robust and powerful in terms of its total sovereign and economic strong addition to: that the Iraqi citizen suffers from the weakness of the Iraqi dinar against the dollar.

Attributed the Finance Committee, the parliamentary fluctuating exchange rate of the Iraqi dinar against the dollar to influence brokers to buy and sell the dollar at the central bank auction, said the deputy in the Committee Abdul Hussein al-Yasiri said: «is supposed to be fixed price for the disposal of the local currency بالاجنبية is determined by the central bank through an auction sale of the currency.

He pointed out: that «the rise in the exchange rate due to the presence markets first government and the other parallel is treated it through intermediaries had an impact in pulling dollar amounts sold to influence exchange rates». Wan «proper treatment will restore prices to the official price».

That is a member of the Economic Committee in the Iraqi Parliament Abdul Salam al-Maliki, said earlier: that the Iraqi government direction to take urgent steps to strengthen the Iraqi dinar by turning the Iraqi market to a promising market.

Even the Iraqi dinar is gaining force the Iraqi government will take urgent steps to transform the Iraqi market to a promising market », stressing: that« the Iraqi Central Bank is responsible for monetary policy and there is a tendency for the integration work between the Central Bank of Iraq and the Iraqi government.

He added: »This approach is necessary after rid Iraq from Chapter VII, to be of the Iraqi dinar purchasing power big match dollar Azmat Economic Committee in the House of Representatives to raise this issue and will be appeals and communications to turn to state its presence in the international economic».

Explained: « The plan central bank to raise zeros from the currency has existed for a long time has been discussed with officials at the bank several times with the Finance Committee in the Iraqi parliament has demanded the government to wait until you determine the right time ».

between: that the time« come to start this project because of the withdrawal of Iraq from Chapter VII. witnessing the exchange rate of the Iraqi dinar against the U.S. dollar fluctuated from time to time depending on the political and economic conditions.

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