Thursday, 04/05/2012
Baghdad (news) .. Financial expert, warned Abdul Hussein al-Radi, the vulnerability of Iraqi dinar exchange rate against the dollar because of the deterioration of the currencies of neighboring countries, by increasing the demand on the dollar and withdrawn from local markets, ruling out the continuation of the phenomenon of depletion of the hard currency of the country, the fact that the central bank in control of all Iraqi banks.
Radi said (of the Agency news) on Thursday: The Central Bank of Iraq is dominated by just the phenomenon of withdrawal of the U.S. dollar through its monetary policy the current support of the Iraqi dinar and based on a solid base of the cash reserves of hard currency, which amounted to more than (60) billion dollars, warning the vulnerability of the local currency deterioration in the neighboring countries currencies against the dollar by increasing the demand for U.S. dollar of the Iraqi market.
He added that the variables that occur in the exchange rates of currencies of neighboring countries to the U.S. dollar will affect the Iraqi trade because they rely on imports from those countries, due to lack of local production, indicating that Iraq has nothing issued abroad, except oil, which led to the influence of any economic change occurs to the neighboring countries or the world.
It is noteworthy that local currency to Iran and Syria is suffering a significant deterioration of its value against the dollar as a result of the conditions of political and economic threats of international passes to them. / Finished / 8. D. Q /
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Radi said (of the Agency news) on Thursday: The Central Bank of Iraq is dominated by just the phenomenon of withdrawal of the U.S. dollar through its monetary policy the current support of the Iraqi dinar and based on a solid base of the cash reserves of hard currency, which amounted to more than (60) billion dollars, warning the vulnerability of the local currency deterioration in the neighboring countries currencies against the dollar by increasing the demand for U.S. dollar of the Iraqi market.
He added that the variables that occur in the exchange rates of currencies of neighboring countries to the U.S. dollar will affect the Iraqi trade because they rely on imports from those countries, due to lack of local production, indicating that Iraq has nothing issued abroad, except oil, which led to the influence of any economic change occurs to the neighboring countries or the world.
It is noteworthy that local currency to Iran and Syria is suffering a significant deterioration of its value against the dollar as a result of the conditions of political and economic threats of international passes to them. / Finished / 8. D. Q /
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