Tehran to limit its private sector orientation to deal with Iraq only a dollar traders

Friday, March 16, 2012 15:07

BAGHDAD / Baghdadiya News / .. Revealed one of the officials banking companies on the exchange rates of the dollar against the dinar and despite the measures the central bank to cut the value of the first, is still high due to continued demand for it, especially since most traders who deal with Iran asking for quantities of the dollar further after that stopped the Iranians treat Baltoman and the Iraqi dinar. He said Jamal Mohammed al-Zubaidi, owner of the sun banking in an interview / Baghdadiya News / Friday, he was by virtue of dealing with constant slice traders show that the Iranian government and having found the reluctance of Iraqis to deal Baltoman which has deteriorated significantly over the last two months and after that applied economic sanctions against Iran, has directed its private sector to stop the deal Baltoman and also the Iraqi dinar with respect to trade and it’s only a dollar limit.
He said the reason behind this measure is that the government is trying to collect as much as possible of the dollar in order to maintain market balance has with respect to its value against the Altoman, because the high value of the dollar in Iran caused by the sanctions on the one hand and increase the demand for it as prescribed Iranian acquisition of the dollar being a universal value and will maintain its value unlike the national currency, especially as they are close to Iraq and remembering the days of the embargo on Iraq and how deteriorated the value of the dinar to become cheaper than the paper that printed on them.
And the beauty of it recently increased the facilities provided for traders Iraqis to urge them to increase business with the Iranian private sector, so the flow of the dollar on their market means balancing the volume of supply with demand and could be a good to keep the value Tomanam balanced or only so much of the decline .
Member of the Economic Committee in the Iraqi parliament’s Nora showed Albjara / Baghdadiya News / “that every country is subject to its own law and can not be urged to apply the things outside of these laws, but it must be for the Iraqi private sector position as well.”
And I followed it and, unfortunately, Iraq has suffered from the random drawing strategies of economic and especially in the field of foreign trade, as it turns out, the Iranian private sector committed itself under the guidance of government, the right to the Iraqi private sector to see where his interests to follow them, and was supposed to be there a similar procedure, such as finding alternatives and are fast to stimulate trade to continue doing business the former currencies of the three Iraqi, Iranian, and the dollar.
It showed Albjara that this problem any survival of Iraq is forced to rely on neighboring countries would stay in place until the achievement of the so-called self-sufficiency, particularly food security, yet traders Iraq are forced to keep their business dealings with certain countries because of the many facts such as the proximity and nature of the item to which the can be damaged quickly, not to mention the lack of cost, as everyone knows that most of the goods imported from Iran is a food, which if made locally maintained Iraq’s foreign revenues and invested in other sectors.
Called Albjara In conclusion, the private sector Iraq is changing rapidly by the import of goods and services to manufacturing, instead of importing food items manufactured in amounts of money each year can be allocated only 10% of import value for the purchase of production lines for the same basket and transfer to Iraq.
The last value Altoman Iranian influence in the Iraqi market and since the introduction of economic sanctions on Tehran, the unprecedented decline against the U.S. dollar and Iraqi dinar, applied the strict instructions of the Central Bank through an auction sale of the dollar as a result of a huge purchase was carried out by the financial parties in favor of Iran and Syria.
And the application of international economic sanctions on Iran and Syria recently caused a drop Akiem local currencies of the two countries, and has Altoman one-third of its value against the Iraqi dinar after that was the equivalent of every thousand Toman 1100 Iraqi dinars per 1000 became today Toman equivalent to 700 Iraqi dinars. As against the dollar was the value of each paper category 1.1 million Toman Toman equivalent to $ 100 today and became worth every 1.9 million Toman equivalent to $ 100, which means that its value fell by almost half. These prices in the currency market in Iraq.
He had the CBI recently to enhance the value of Iraqi dinar by subtracting the value of the dollar in the auction is less than the previous by 23 points, / End