The government attributes the rise in the dollar to speculators and experts assert: Central wrong deal

by **Ponee** Fri Mar 27, 2015 5:33 pm

The Iraqi government confirmed on Wednesday, having a stock of reserves of hard currency and not "fear" of the Iraqi currency deterioration against the US dollar, as showed that speculators raised a state of anxiety about the bank's reserves,

the Parliamentary Finance Committee to the eye that the weakness of the financial policy of the country and control of traders Market of the main reasons that led to the rise of the dollar against the dinar.

The prime minister for economic affairs adviser to the appearance of Mohammed Saleh in an interview with the (long-Presse), "The central bank sales of the dollar was up to about 200 and 300 million dollars per day in order to maintain market

and wasted dollar arrogating the Finance Committee in the House of Representatives and in Article 50 of the Budget Law to make the central bank sales of up to $ 75 million per day. "

Saleh added, "but this amendment exploited by speculators and Mentfon provoked panic, and fear of the decline of bank sales and the weakness of its reserves of foreign currency as well as the dumping import goods is necessary, boosting demand for the dollar has increased and therefore the high price to sell,

"noting that" 75 million dollars is sufficient to meet the market need, so can not be hold central bank actions responsibility rising dollar and neglect these. "

He continued economic advisor to the Prime Minister "does not fear of the Iraqi currency deterioration against the dollar because the central bank has sufficient and reassuring reserves of hard currency dependent on oil revenues,

"noting that" the coming days will witness a breakthrough to the crisis with the followers of the budget policy on liquidity in the market and the size of the reserve and flow. "

For his part, said committee member Finance in the House of Representatives Haitham al-Jubouri, in an interview with the (long-Presse), "The weakness of the financial policy of the country and in particular monetary and fluctuating dollar exchange rate against the dinar,

as well as control of the traders on the market of the main reasons that led to the rise of the dollar against the dinar."

Jubouri said that the "The CBI made a serious mistake when inventory sell the currency on the government and private banks and banking offices, leaving traders to buy the currency on the black market because of their inability to wait to take their roles in the private banks or succumb to speculators because the market can not afford delay or borrow from others."

turn said Committee member Magda Tamimi in an interview with the (long-Presse), "The rise in the dollar exchange rate against the dinar, the case will not last long and will be gone soon, as the central bank promised that he was working on the mechanisms and procedures it is possible to reduce the selling price and make it available to adequately among the citizens and merchants."
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For his part, the financial expert Majid picture in an interview with the (long-Presse), "The changes in commodity prices, today, in the Iraqi market is not caused by the change in the exchange rate for the dollar,

but the result of the new indirect taxes which increase the tariff, the merchant importer was not affected by the exchange rate permanently. "

He criticized the picture "link banking companies of the Central Bank and receive a license to deal in obtaining and selling the dollar," stressing that "that is the wrong way because the internationally accepted it is that the central bank only deal with the banks, so it maintained a presence with Bank him wrong effects on the market. "

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