Economic attributes the rise in the dollar price of Article 50 of the Budget Law

by **Ponee** Thu Mar 12, 2015 10:55 am

Stressed member of the Association of private banks Abdul Aziz Hassoun, on Thursday, that Article 50 of the Budget Law behind the rise in the dollar's exchange rate against the Iraqi dinar, and cause confusion in the central bank's actions and his work.

A goldfinch in a press statement I followed Agency / Source News /, that "the House of Representatives added Article 50 of the budget law, which provides for the reduction of central bank sales of foreign currency and identified $ 75 million instead of $ 300 million a day Maady to the deterioration of the Iraqi dinar against the dollar and stagger the Bank's work, "noting that" the central bank has no knowledge of Article 50 upon the arrival of the draft budget for 2015 and added by the House of Representatives without the knowledge of the bank. "

"The Bank is $ 75 million per day, and this figure is very small for banks and banking offices and led to the exploitation of speculators to this paragraph and price manipulation, and the monopoly of the dollar and raise the price."

He stressed that "the House of Representatives does not have anything to do with the procedures and the work of the Central Bank and the addition of paragraph 50 is considered an interference by the Board of the Central Bank job."

Hassoun called "the House of Representatives to speed up the delete or cancel Article 50 and not interfering with the central bank," describing the intervention of the House of Representatives job bank "surprising and strange."

The dollar exchange rate has risen to 129 000 dinars per $ 100, a significant increase did not happen 11 years ago in Iraq.

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