Depletion of foreign currency in Iraq
22/03/2012 05:35 AM
BAGHDAD / follow-up to the East: Economic Commission warned by MP / coalition in Iraq / Nora Albjara process of depletion of the hard currency of the country as a result of the deterioration of the Syrian pound against the U.S. dollar, will affect the exchange rate of the Iraqi dinar against international currencies. The Albjara (of the Agency news) on Wednesday: The low exchange rate of the Syrian pound against the U.S. dollar will lead to the withdrawal of foreign currency from local markets in favor of Syria, as happened recently when the deterioration of Altoman Iran to the U.S. dollar, and this will affect the value of foreign currency in Iraqi markets and the low exchange rate of the dinar against the dollar.
It called for: the importance of taking necessary measures to prevent the occurrence of smuggling foreign currency out of the country through the control of Iraq's border with neighboring countries to reduce the appearance of such cases, in addition to the central bank should take a role in controlling the sale of the dollar Bmzadeh fact that the process will lead to increase the demand on the U.S. Dollar.
She Albjara: can not make the deterioration of the currencies of the countries surrounding Iraq to receive negative impact on the Iraqi dinar, but we must work to increase the exchange rate of the Iraqi currency through the sale of crude oil in Iraqi dinars, as Iran is now selling some of its oil own currency, which saved Altoman Iranian deterioration in front of hard currency. The exchange rate of the Syrian pound has dropped significantly against the U.S. dollar as a result of political and security problems taking place in all regions of Syria, which has made the U.S. dollar is equivalent to (7.5) for the SP.
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