Date: Mon 12/19/2011 8:06
□ Baghdad / Ahmed Abed Rabbo
Denied the deputy governor of the Central Bank of the appearance of Mohammed Saleh, said that the U.S. withdrawal from Iraq, a major influence on the rise of the dollar against the dinar, pointing out that this withdrawal will increase the strength of the Iraqi dinar.
Said Saleh (range economic): The regional situation that occurred in the region have influenced this decline has made the Iraqi trader and broker in the region, trade is regional need financing in foreign currency and on this basis began to pressure on the auction the central bank to Toviramlh foreign so the market can keep up with so additional commercial operations.
Saleh added: that the central bank fears of transactions relating to money laundering and that do not go in the service of the country, noting that this intensification and audit transactions Born a thing of the bubble price and in spite of, the power reserves of the Iraqi Central Bank foreign currency is food for the local currency increased by 100% This means that monetary policy has the ability to cope with any price bubble caused by the external conditions imposed on the national economy.
He noted that the Central Bank is currently the highest reserves in its history.
For his part, economist gnathion NA on the cause of the high price of the dollar against Iraqi dinar is due to psychological fear in the Iraqi market
The gnathion NA's (range economic): The slight rise in the value of the dollar against the dinar goes back to the psychological situation in the Iraqi market, noting that there are expectations by some of the people that get out the Americans will affect the exchange rate of local currency is called a group of them to convert their money to the local the dollar.
He gnathion NA: The pressure of external payments by traders and investors affected other concern is the local currency.
He pointed out that Iraq has enough funds do not own any country from neighboring countries as compared with the value of the country's GDP, pointing to the ability of the government bond currency and maintain the dinar's exchange rate stable.
Observers believe that the sudden decline of the dinar against the dollar in recent days Find fear in the local market, the dinar fell of 1117 dinars to the dollar to 1245 with the central bank cut of the sales of the dollar to less than ten million after it exceeded this figure in the rate of sales daily of the U.S. currency by about ten times or more.
As specialists went to the existence of the movement of financial and draws large banks witnessed over the past days by the companies as well as economic institutions, traders and citizens.
And the simple drawings that were imposed by the banking institutions to transfer money out of the country have risen to nearly five times because of high demand on the funds.
Some go in conversations between U.S. withdrawal and the escalation of divisions in the country, and fears that led to the devaluation of the dinar, as well as the country's vulnerability to a wave of external demands may affect the cash reserve in case Iraqi lift the U.S. out to protect the Fund of Iraq's money, which was estimated at about two fifths billion dollars.
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