Decline in the value of Iraqi dinar against the dollar markets, the Kurdistan

23/04/2012 17:00
Erbil, April 23 / April (Rn) - refers jewelers and shop owners of banking in the Kurdistan region, to the high price of gold and U.S. currency in the markets of the region, so that a negative impact on commercial activities.

Markets for Iraq and the Kurdistan region, a few weeks ago, a remarkable fluctuation in the value of U.S. currency and gold, which has affected negatively on the business events and cause in raising the price of materials.

The deputy head of the union chapel Kurdistan, Mohammed Bakr, told the Kurdish news agency (Rn) that "the price per Almthagal of 21 carat gold in the markets of the province reached to 298 thousand dinars."

And on the reasons for the high price of gold, he explained that "the reason is due to the high value of the dollar in the markets of Iraq, has caused this rise in reducing the proportion of the activities of buying and selling gold 50% over the past months."

Mohamed said that "the problems and crises between Kurdistan and the Iraqi government and non-ratification of the general budget of the province by the Parliament of Kurdistan, along with the appreciation of the U.S. dollar, all contributed to the weakening of market buy and sell gold, also affected the prices have gone up."

The price of the dollar has experienced during the recent notable gains Alosaba until it reached to 132 thousand dinars for every $ 100, while the central bank set the exchange rate of 117 thousand dinars for every $ 100, an increase of 15 thousand Iraqi dinars.

For his part, said Samir Messenger, owner of a franchise in the city of Arbil, (Rn) that "the value of the dinar Infkhadd compared against the dollar over time, The paper per class $ 100 is equal to 128 thousand and 500 dinars," adding that "prices are rising and declining within a few minutes only, ie that the value of the dinar is not fixed. "

The parliamentary Finance Committee had warned earlier in the Secretariat of the Council of Ministers of trying to dominate the monetary policy of the Central Bank of Iraq and curbing the powers of the central bank governor, noting that this was a violation of the constitution and has serious consequences on the Iraqi economy.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.