Central actions aimed at stabilizing the dollar exchange

by **Ponee** Thu Jun 18, 2015 10:55 am

Experts: supply and demand balance contributes to the stability of its price

Central actions aimed at stabilizing the dollar exchange 4-3422

A number of economists headed dollar prices to a gradual decline after the CBI action, stressing the importance of giving flexibility to sell the dollar by central without restriction, and its role in maintaining the stability of the exchange of the dinar rate against the US dollar.

economic expert on behalf of Jamil Antoine said that the stability of the exchange rate and returning to normal rates required by the Central Bank of Iraq show higher amounts than the figure currently located to meet the needs of the local markets of the dollar and as a result demand for the dollar decline. Pointing out that the central needs to activate the role of regulatory bodies to prevent the influence of speculators on the market.

He said in an interview with "morning": that the huge demand for goods holy month of Ramadan before is one of the reasons that raised demand for the dollar has doubled imported from different materials quantities.

financial expert Samir Alnasiri attributed in an interview for the "morning" reasons for the high exchange rate of the dinar against the dollar back to restrict the sale by the Central Bank of Iraq process, pointing to the need to be flexible in the mechanics of selling and that depends on the supply and demand in the local market.

He noted the importance to be CBI work independently, and that the provision of the dollar in the domestic market, contributing to keep speculators and users of price manipulation and monopoly, which Osthma in the events of the vagaries of exchange rates.

He said, that the punishment of 14 banks and the war on terrorism and the lack of liquidity and low oil prices accounted for the main causes of the high exchange rate .

For his part, between authorized source at the Central Bank said the increase in the exchange rate is normal and that the central continues to issue instructions that contribute to the return of prices to normal levels after the follow-up actively for the causes of this rise in selling the dollar markets.
While he said the managing director of the Association of Iraqi private banks The central bank has a great role in the gradual decline in selling the dollar market yesterday measures.

He noted that the Association is following the graph to sell the dollar in the domestic market, and is considering ways to stabilize the exchange rate and reduce the impact of speculators on prices.

decision to reduce the period of deposit for amounts will contribute to reducing the price dollar exchange rate (according to the Iraqi private banks association) came in a statement, that the Iraqi Central Bank's recent decision, containing the reduced period of deposit for amounts as well as consideration on Saturday a regular working day to meet the banks requests from foreign currency will contribute Bkhvs dollar exchange rate, indicating that it will be supportive of the decision.

The head of the Association meek Handal said the Iraqi Central Bank is trying through the procedures and mechanisms in place to support the Iraqi dinar, and create an atmosphere suitable for the banking business and in cooperation with private banks as a team solidarity, noting that the recent decision to increase the auction business days and consider Saturday a regular working day to meet the banks requests of foreign currency, in tune came up with to meet the banks need of foreign currency "dollar" and facilitate the work of the banks.

He said Handal, said the decision the other to reduce the period of deposit for amounts from ten days to five are directly contribute to the reduction of the dollar's exchange rate against the dinar and this is what Senlahza through the next few days and that the Association would be supportive of the decision to serve the public interest.

The Board of Directors of the Chamber of Commerce member of the Baghdad Alaa Al-Nouri has said the chamber committees I have indicated a slight increase in some food prices, especially white meat and red imported exclusively, either in terms of food prices Other natural they open their prices because of the large stocks of them within the country.

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