Decline in the Iraqi currency raises concerns and the Central Bank says that the issue of temporary

2/15/2012 | (Voice of Iraq) - Add Comment - Baghdad - Euphrates News / Report: Q Fatlawi retreat of the Iraqi currency exchange rate in a banner during the past few days against foreign currencies, particularly the U.S. dollar, raising fears among the citizens of the continuing decline. attribute Some of this decline to an asylum Central Bank of Iraq to implement more stringent measures in the recent past regarding its sales of hard currency, especially the dollar, which has led to a lack of circulation in the markets and increase demand and thereby increase its value against the dinar, but others believed that the currency's decline is due mainly to the withdrawal of America and the growing divide between politicians, threatening the stability of the country. To find out the truth it spoke Agency {Euphrates News} with the central bank adviser appearance of Mohammed Saleh, who said, "We have asked the Central Bank as of the beginning of February the current to circulate to those who are dealing with Central Bank and the private currency traders pay a certified check from their bank account, because the bank accounts give a database large for each trader with the Central Bank. " and added "we have noticed in the first period reluctance to buy foreign currency for two reasons: first that these dealers, most do not have bank accounts in the Iraq, and second that these traders have a bank account but not their names so as not to reveal their identity, and this is because of the fear that implants have during the former regime. " Saleh explained that "because it faced the currency decline in the Iraqi dinar exchange falling sales of {200} one million to $ {3} millions of dollars over the past few days because of the instruments as I mentioned earlier in my speech, "pointing out that" last Thursday, returned sales to rise as the percentage of sales from {3} millions of dollars to the {68} million, it is a sign right to recover Iraqi dinar to recover. " and pointed out that "there are those seeking to overturn these regulations which require the merchant to pay the instrument bank of the Central Bank," stressing that "we will not agree to cancel because of this FAQ on the subject of money laundering and are intended to fund crime and terrorism," noting that it "matters legal will not discuss them or run the risk of it. " and called for citizens the obligation to "the principle of transparency in dealing with such decisions," stressing that "the Iraqi currency is a strong currency and more like a hard currency and part of the currency is higher than the current liquidity of the Iraqi dinar according to the exchange rate," referring to "We intervene in the market of foreign currency through the window of sale of foreign currency, which was called the auction of foreign currency earlier." He said bank adviser said, "This window provoke intervention down the exchange rate, but the result after our involvement in the sale to go the money in the foreign trade and the private sector who provide themselves with foreign currency from this window ", justifying this intervention is for" the purpose of stabilizing the exchange rate of Iraqi dinar and the equation of the Iraqi dinar dollar down. " and pointed out that "not to restrict the Central Bank of sales because of the freedom of foreign exchange preserved under the policies adopted by the Central Bank except for officer one is checking money laundering only led to the existence of transactions on the foreign exchange may hide behind economic crimes but our goal make it clear that the banking system embracing of money contaminated where we once in a while to develop instructions for the subject that will ensure the safety of the national economy from any negative impact, especially economic security of Iraq. " and noted the benefit that "some currency traders took advantage of the last period, Imagine that the center of the Central does not have the money he has lost the ability to control the purchase of the currency they started to step up the exchange rate, this speculation and clear to citizens and damaging the same time." and added that "the central bank is the force financial Strike can precautions Finance in Iraq and that more than sixty billion dollars, have the ability to absorb these requests as much as twenty times, "calling citizens all to" trust because it is just a matter of temporary and that the Iraqi economy is strong and the Central Bank is strong and foreign currency available and this is just the maneuvers of a market that are driven and beyond. " This called for citizens all to "buy foreign currency according to the new conditions and assets the new education which include the payment of a certified check for each transaction to see Iraqi customer and the people economists who serve the country properly." For his part, member of the Economic Commission parliamentary deputy of the Virtue Hussein Almrobei what the central bank adviser said that "the cause of the high price of the dollar against the Iraqi dinar, is to take the central bank procedures and new regulations for the circulation of foreign currency and the impact on the lack of pumping," noting that "the central bank was not working these controls previously What is the effect on the price of foreign currency . " and added that "the procedures followed by the central bank came at the wrong time and was supposed by the media the Economic Committee in the House the details of the procedures for discussion and knowledge of their impact on the economic situation in the country," he said, adding that "Maichea for withdrawing dollars from Iraq and replace it with currencies further from the truth, and the aim is to confuse the two modes of political and economic situation in the country. " As an MP from the bloc citizen Abdul-Hussein Abtan, told {Euphrates News} "The steps the central bank to remove zeros from the dinar Iraqi bold and will raise the exchange value of the dinar against the U.S. dollar." and works of Iraq to implement the project to delete the zeros from the currency to facilitate financial transactions in the country with the country's openness to international markets and try to attract capital and investors to contribute to government efforts to rebuild the crumbling infrastructure as a result of decades of war and siege. As a member of the Finance Committee representative Haytham Jubouri said, told { Euphrates News} that "the political situation which is going through the country now is very much affected by the low exchange rate of the Iraqi dinar." He held the central bank responsible for fall of the Iraqi currency, and said that "the central bank is preparing the Iraqi market, local, including needs of the dollar, and the issue of high the dinar and the decline, however, the central bank because if raised sufficient funds for traders and those seeking to the dollar in that day there will be no increase in the price either if there is lack of will decrease in the rate of the dinar. " It is likely Economists cause of the low value of the dinar to the U.S. withdrawal from the country and the escalating divisions in which , as well as the country's vulnerability to a wave of claims for Foreign Affairs may affect the cash reserves of Iraq if the United States lifted her hand to protect the Fund of Iraq's money, which was estimated at about fifty billion dollars. and replaced by the Coalition Provisional Authority at the time of the civil administrator Paul Bremer, the Iraqi currency with new ones after the fall of the regime Previously, ranging categories of 250, 1000, 5000.10000 to 25000 dinars, and designs similar to those issued by the Central Bank of Iraq in the seventies of the last century, where replaced every dinar is a dinar a new Iraqi, either dinar printed in Switzerland, which was dealt with Kurdistan replace with 150 JD is an interview with the unification of the currency in all parts of the country.

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