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Between speculators and the central procedures dollar exchange rate up to the highest rate in two years
25/03/2015 13:30
Continuous rise in the price of the dinar against the dollar despite the central bank action to maintain stability, what is the secret of this rise after years of relative stability? And how they can be met, whether caused by a contraction of the dollar amounts of the market?
During the past two months, the Iraqi market has seen a gradual rise in the dollar's exchange rate against the dinar, currently up to 1228 dinars to the dollar, the highest rate of the exchange rate during the past two years, at a time Specialists Financial considered that a bubble is due to appear for the speculators, that the experts confirmed this increase was the result of the budget law, which reduced the amount of dollar selling in the auction.
confirms central bank governor on the relationship, "The rise in the dollar price in the market is slightly due to speculators," explaining that " This rise came after the Bank has established new mechanisms to sell the dollar at the auction. "
illustrates the relationship in an interview that "this rise is due to speculators in the dollar and some groups that were subsist on the bank auction before," he said, adding that "the bank expected for such a rise in the price of The dollar, which is unjustified and unreasonable and real at the same time. "
The Keywords that, "this increase is considered normal when you move from one stage to another or from one mechanism to a new mechanism to sell the currency."
For his part, Economic Adviser to the Prime Minister says the appearance of Mohammed Saleh an interview that "the rise seen with the dollar in the market currently in front of the Iraqi dinar is just a bubble because there are some speculators and Translated in the market," he said, adding that "the dinar is very strong and is covered by one and a half of hard currency."
Saleh stresses that "the bank has enough to procedures dispel this bubble within a few hours of shut down and restart the situation to what it was previously. "
As a member of Najiba Najib Afqatol Economic Committee in an interview that "the budget bill for the current year 2015 included a restriction or condition within one of its articles, which can not exceed the sale of the bank conducted by more than one auction $ 75 million per day, indicating that "the new procedures for the sale of currency imposes the existence of documents of any order to buy dollars by participating in the bank auction banks, and these amounts can be obtained only after 15 days."
confirms Najib, that "the central bank introduced an appeal to the Federal Court to cancel this requirement in the budget, unexpected gain appeal there to be free to sell the dollar auction the bank, and therefore this will be reflected in the reduction of prices of the dollar. "
says economist Hilal Tahan, "The budget bill for the current year reduced the central bank sales of $ 300 million to 75 million dollar a day, causing a rise of the dollar in the market. "
adds Miller, "The rising global prices of the dollar against the euro and sterling was another reason for the rise locally, and that the dollar supply in the domestic market is very small, which led to a rise to 1228 dinars to the dollar . " The dollar price in the local market before the Iraqi dinar gradually to reach 1228 dinars to the dollar, compared to 1225 thousand dinars to the dollar over the past month and 1,200 dinars to the dollar through the end of last year 2014
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25/03/2015 13:30
Continuous rise in the price of the dinar against the dollar despite the central bank action to maintain stability, what is the secret of this rise after years of relative stability? And how they can be met, whether caused by a contraction of the dollar amounts of the market?
During the past two months, the Iraqi market has seen a gradual rise in the dollar's exchange rate against the dinar, currently up to 1228 dinars to the dollar, the highest rate of the exchange rate during the past two years, at a time Specialists Financial considered that a bubble is due to appear for the speculators, that the experts confirmed this increase was the result of the budget law, which reduced the amount of dollar selling in the auction.
confirms central bank governor on the relationship, "The rise in the dollar price in the market is slightly due to speculators," explaining that " This rise came after the Bank has established new mechanisms to sell the dollar at the auction. "
illustrates the relationship in an interview that "this rise is due to speculators in the dollar and some groups that were subsist on the bank auction before," he said, adding that "the bank expected for such a rise in the price of The dollar, which is unjustified and unreasonable and real at the same time. "
The Keywords that, "this increase is considered normal when you move from one stage to another or from one mechanism to a new mechanism to sell the currency."
For his part, Economic Adviser to the Prime Minister says the appearance of Mohammed Saleh an interview that "the rise seen with the dollar in the market currently in front of the Iraqi dinar is just a bubble because there are some speculators and Translated in the market," he said, adding that "the dinar is very strong and is covered by one and a half of hard currency."
Saleh stresses that "the bank has enough to procedures dispel this bubble within a few hours of shut down and restart the situation to what it was previously. "
As a member of Najiba Najib Afqatol Economic Committee in an interview that "the budget bill for the current year 2015 included a restriction or condition within one of its articles, which can not exceed the sale of the bank conducted by more than one auction $ 75 million per day, indicating that "the new procedures for the sale of currency imposes the existence of documents of any order to buy dollars by participating in the bank auction banks, and these amounts can be obtained only after 15 days."
confirms Najib, that "the central bank introduced an appeal to the Federal Court to cancel this requirement in the budget, unexpected gain appeal there to be free to sell the dollar auction the bank, and therefore this will be reflected in the reduction of prices of the dollar. "
says economist Hilal Tahan, "The budget bill for the current year reduced the central bank sales of $ 300 million to 75 million dollar a day, causing a rise of the dollar in the market. "
adds Miller, "The rising global prices of the dollar against the euro and sterling was another reason for the rise locally, and that the dollar supply in the domestic market is very small, which led to a rise to 1228 dinars to the dollar . " The dollar price in the local market before the Iraqi dinar gradually to reach 1228 dinars to the dollar, compared to 1225 thousand dinars to the dollar over the past month and 1,200 dinars to the dollar through the end of last year 2014
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