A parliament member: the U.S. withdrawal caused iraqi dinar value to go down

A parliament member: the U.S. withdrawal caused iraqi dinar value to go down


January 02, 2012

Yasiri said on Monday: that the disparity in the price of
the Iraqi dinar against the U.S. dollar is subject to the issue of
supply and demand in the domestic market, and that the central bank has a
policy to control the rate of the dinar against the dollar through the
auction or the so-called "market supply of the dollar and sold in the
auction," When you see that the Iraqi dinar against the dollar has
fallen by the Central Bank who shall sell huge amounts of dollars in the
auction, as well as vice versa.





Yasiri said that the low price of the Iraqi dinar against
the U.S. dollar in the last period due to the U.S. withdrawal from
Iraq, which had Iraqi currency, so he bought the U.S. dollar from the
local market has become a strong demand for the dollar than less
display, and continued: in addition to the political problems that
occurred during this period also have a role by paying a lot of traders
to buy dollars in anticipation of trouble in the country.





A member of the Finance Committee representative: The CBI
does not respond during this period of high demand on the dollar,
making the price of the U.S. dollar increased against the Iraqi dinar,
pointing out that the central bank now has to sell the dollar in the
auction, making the dinar goes back to the price of the former almost.


The price of the Iraqi dinar reached during the last week (1260) dinars per one dollar.


http://www.edinarfinancial.net/news/?quer=&nm=&ny=&nn=681




Smoke and Mirrors?

Read Bondlady's post, and a couple from AJ. Seems to them that something is up, and I would have to agree. We will see what this week brings. I wonder if the members of parliament really understand what some people think Shabibi is up to. Brilliant, if true.

Just like Bondlady said. Make Iraqi's think it has dropped in value and Bam, the three 000's are off the street. Cool, bring it on.