Civilized dialogue - Mobile The dollar and the dinar again
Civilized dialogue - Mobile
The dollar and the dinar again
Tahir Muslim cry
an introduction :
Prevailed Ottoman Currency Iraq, such as Bakjh and Alorkh and Alsag and lunar and shark and Majidi gold lira, etc., and after the First World War and the entry of British troops Iraq, has become Anna Indian rupee is the official Iraqi currency and even in 1932, in which the Iraqi dinar was issued, it was equivalent to 13 rupees, has linking the pound sterling continued until 1959 where he became linked to the US dollar, and was then the equivalent of $ 2.8.
It achieved the Iraqi dinar, which is equivalent to a thousand fils, best distract him prices in the seventies when he equaled more than $ three remained conservative on almost its value against the US dollar during the Republican era, ie equal to three dollars and a third, but its value goes up at times for this price because of the boom economic witnessed in Iraq, especially in the second half of the seventies. This era also saw for the first time to determine the foreign exchange operations and business banking and infinite validity Iraq's central bank as a result of the adoption of the socialist system as an economic system of the Iraqi state, has been printed and punching all versions of the Republican era of currency in Britain, it has been customized and very high quality as it were relevant forms wonderful art.
Wars have led to high rates of inflation:
Faced Dinarmadlat inflation high, especially after Iraq's wars with Iran and America, which led to the collapse of the value of the dinar, according to financial experts that repeated elevations of the dollar and then relegation to the first levels, which the country has seen in recent times is not just a bubble caused by speculation, but returning to a variety of reasons objectivity, the state intervened in a part thereof, and the citizen is the only loser in the game of the dollar, and most important:
1. falling oil prices, which did not bracing his Iraq, although he did not get a sudden.
2. Adoption of the Iraqi economy on oil revenues only and the neglect of other sectors such as industry, agriculture and tourism.
3. who waged war against the country Daash and allocate a large part of the budget for the purchase of arms and the salaries of the soldiers.
4. resort speculators in the Iraqi currency market to raise prices, taking advantage of the security and political unrest in the country.
5. impose taxes and fees that came in the budget of 2015 and the application of the austerity policy, as well as the extraordinary security situation experienced by the country, which contribute much to lift the dollar's exchange rate against the dinar, and the lack of any clear plan for the advancement of the country's economy is influential factors directly.
6. Purchase capitalists funds large amounts of dollar and keep it as a result of instability, that the unstable political and economic conditions to pay the owners of capital to smuggle money and so motivated to get profit and the search for a stable economic environment in light of the gloomy outlook which was the subject of the increasing smuggling of currency, especially the most influential in Iraqi politics today are the haves nationalities other than Iraq and therefore they are turning Meixbonh in Iraq to other State.
7. According to the law of the state budget, which began in Parliament on 29 January last, which stipulates that the central bank is committed to identifying sales of hard currency [the dollar] in the daily auction ceiling does not exceed $ 75 million a day, with the exercise of justice in the sales process, and calls for participating in the auction the bank providing the introduction of cargo documents and statements of tax settling accounts and savings Alkmarki within 30 days from the date of buy the amount and otherwise applied to the bank penalties stipulated in the Central Bank Act or regulations issued from it, and use other banking instruments to maintain the strength of the dinar against the dollar.
Mr. Abadi adviser statement:
Mr. Abadi to Aokd adviser statement came the rumors about a possible undersupply of the dollar and pointed out that "a determining central bank sales of the dollar in its daily auction was due to financial distress, home to Iraq and maintain the bank's foreign currency reserves.
He added: "We have in Iraq uncontrollable commercial and there are goods in the market is not worth the importation where there are stocks of durable household as materials and cars suffice Iraq for several years, but the import is continuing and this exhausts the state budget."
Between last year and this year:
This is exactly what happened in the last year where it began the value of the dinar is falling apart gradually against the dollar and over more than five Ochehrdon to turn one of the politicians of the topic or is developing a treatment challenge of it, so the dollar has reached more than 140 thousand Iraqi dinars and expect everyone continued to climb to reach at least 150 thousand, however, Mr. Prime Minister, and as one who was asleep and win terrified, he came out in the media to declare that he does not allow such a situation and that the dinar must return to the former Sarcherah, and the fast-track re-value of the dinar, which link within months, and in a few days !
Such action make much explains the situation like this, which has damaged the generality of the people of merchants and citizens, as being the complicity of the state with the market brokers, and banking offices, which are the property of the party's powerful, it was earners president who has done the state is deselected dollar amounts sold in daily auctions at the central bank for $ 75 million in each auction, and submit them sometimes for up to more than $ 300 million, and the state agreed to the proposal of the Central Bank of Iraq delete custom duty and tax levied on the purchase of the dollar, amounting to 8 -; -% -; - ".
, Called for the beneficiaries of the currency traders to increase the price to maintain their profits Aleomah.uetoly central bank also monitor these processes into a streamlined and transparent mechanism, with the development of creating capacity plan to activate documentary credits instead of the current method and coordination with the banks, and in return, the Aeltagrandma exposed to any loss it recovered from the citizen through multiple methods of monopoly goods or the imposition of additional amounts of the goods, and therefore the damage is due first and last on the ordinary citizen, so there must be a delicate balance in the process of reducing the exchange rate of the Dollar against the rising value of the dinar.
Processors are needed:
It must be an overall reduction of all state expenses quickly and in force before the cash for the disaster, and the state should not borrow loans and the benefits great because they mortgaged the future of Iraq attendees.
The important point must be the Iraqi government multiple sources of income from industry, agriculture, tourism and real encouragement to build economically strong country, Iraq, Turkey Fagarah oil does not have, however, more than the annual income of 800 billion dollars.
Of the most important treatments that help sustain the process of economic progress Hoanchae projects commensurate with the needs of the community, and that will strengthen the economy and occupy the workforce and stimulate the work of all sectors in the trend towards self-sufficiency to a certain extent a first step towards the development of scientific solutions to economic stability, which is a step a necessity for the recovery of the life of society and psychological stability and living standards for all citizens, and should reject any mortgage for Iraqi oil wells that threaten Iraq's economic future completely.