By: Walid Fadel al-Obeidi - 10-10-2014
Do you know the concerned Ministry of Finance and the Central Bank amounts of liquid funds traded in the market by categories of paper currency cash from 250 dinars to the very category of 25,000 twenty-five thousand dinars, with the amount of damaged and the proportion of counterfeit currency, including every province ???????? ...... .
The reason for asking this question is two things:
The first: that the country repellent competencies and suffers from crises constantly and the amount of local currency have no value in any international exchange or market currency for the state close, which means impaired and their purchasing power and the presence of a trader Mali artificially and is a real addition to the lack of small denominations of the currency, forcing citizens to trade incumbent the value of the (250 dinars) and knew that all workers in the field of trade in particular.
Second: There are no local industry provides the country's hard currency can be retained with the exception of the oil we import everything, even terrorism, and this requires us to expenses and costs, which reduces confidence in the currency of the Iraqi Add to that the 98% of oil money cover other expenses of the ministries of the rest, which indicates that only 2% is the revenue comes from fines and levies simple and this itself is poor management and planning, and a waste of public money and human resources that the country under the dome.
Do inquired value of the Iraqi dinar currently real?
Since we Anovr dinars nor dirhams virtue episode of globalization, which requires us to import everything and consumption of anything on the market, it means that the central bank in its daily auction sells most of the currency in the form of remittances and external emptied the treasury of their cover in hard currency, which could be available if moved Industry and agriculture and keep the citizen portion of his earnings as a result of the profit margin available.
As the Iraqi currency fragile does not possess the power of hard currency, it is not good to immerse in the competition of supply and demand in a basket of currencies they consider commodities applicable to them all the laws of profit and loss and lost a lot of its value and its purchasing power they damage per capita income and reflected negatively on the movement of supply and demand and is known logically that the prevalence of reduces the value of the thing.
Iraq is a state non-manufactured or, leaders in agricultural production hence it is very important that the government is seeking to raise the value of the Iraqi dinar against other currencies in order to ensure the citizen PPC for Mad imported and insurance needs good compared to the current value, which overwhelmed and not being able to complete the securing basic needs are subsistence .
We suggest that the state controls the currency market in order to revive the value of the Iraqi dinar, which in turn will be reflected on the meaning of citizenship and the nation and a sense of individual responsibility towards him.
Walid Fadel al-Obeidi
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