EDITORIAL: WHEN REGAIN THE IRAQI DINAR AND THE NORMAL AGAINST THE DOLLAR?
At the time suggested the parliamentary Finance Committee on the central bank governor to act cash reserve existing dollar to maintain the value of Iraqi dinar, student Aziz Sharif Mayahi member of the Committee on the economy and investment parliamentary Central Bank to take practical steps and serious to limit the low exchange rate of the Iraqi dinar in the local markets compared dollar,
and the Vice-Chairman of the Finance Committee MP Ahmed Hassan Faizullah, that his committee proposed to the central bank governor to act cash reserve existing dollar to maintain the value of Iraqi dinar, stressing that the central rejected the proposal and make any hand in his, and said Faizullah: The meeting, which investigating the parliamentary Finance Committee in the presence of the central bank governor, touched on the various topics of interest to the national economy and the Iraqi dinar, most notably maintaining the value of the dinar against the dollar and how to work the draft deleted three zeros from the currency, noting the failure to reach any conclusion about those topics,
and added: that his committee submitted a proposal to the Central Bank Governor Sinan al-Shabibi act reservoir cash existing hard currency “dollar”, which is estimated at more than (60) billion dollars, in order to stabilize the exchange rate of the dinar against the dollar,
but Shabibi refused and asked not to enter any body work that Central Bank is an independent body, and ruled MP Faizullah: restoration of the Iraqi dinar during the current term with the absence of the local product and reliance on extractive industries “oil”, because the increase in value of the dinar need a solid economy based on economic sectors large and the project to delete the three zeroes from currency,
he pointed out that it still is not perfect, and the project can be implemented in a period marked by crises and political instability and economic situation in the country, stressing that most of the members of the Finance Committee are not convinced this project because it does not hurt the interests of the Iraqi people at the present time.
For his part, called for Aziz Sharif Mayahi member of the Committee on the economy and investment parliamentary Central Bank to take practical steps and serious to limit the low exchange rate of the Iraqi dinar in the local markets against the dollar and the central bank controls and apply strict sanctions against banks that violate financial regulations and instructions issued by the Central Bank of Iraq which obliges banks to sell the dollar price specified formally,
and explained Mayahi: that the decline rate of the dinar against the dollar has caused the rise in commodity prices in the domestic market and add new burdens on the shoulders of citizens, especially the poor and stressed the need to detect corrupt and put banks and companies infringing on the black list , blaming the Iraqi Central Bank, full responsibility for any decline in the Iraqi dinar exchange rate against the dollar as responsible for formulating monetary policy in Iraq, while Deputy Central Bank Governor appearance of Mohammed Saleh, said that the high price of the dollar against the dinar controlled by the bank and will witness the coming days significantly reduced, Saleh said: that the reason the price rise of the dollar against the dinar back to the regional situation plaguing neighboring countries, and this situation Oirt and a negative impact on the currency market in Iraq by increasing demand for the dollar,
while announced the Economic Commission representative that the price of the Iraqi dinar rise against the U.S. dollar soon, as will exchange the $ 100 b 117 thousand and 900 dinars, and will set the price by the CBI, said the Commission’s decision MP Khalil Mahma that the Finance Committee and other committee in the House of Representatives إجتمعتا with the central bank, to determine the price of the dollar against the Iraqi dinar, During the meeting, stressed the need for stability dollar per versus 1179 dinars, after that add to it 13 dinars commission, and Khalil stressed that the real price of the U.S. dollar is equal to 1179 dinars, and high dollar returns to trade in dollars and send it to neighboring countries, he said.
So said the Finance Committee in the House of Representatives she discussed with Iraqi Central Bank Governor Sinan al-Shabibi fluctuation Iraqi dinar exchange rate against the dollar and other currencies and the imposition of bank procedures more stringent auction to sell the currency after it said that the currency you go to trade neighboring countries and so instead of going to support projects structuralism, the Cabinet had the last month to form a committee to study the fluctuation Iraqi dinar exchange rate,
it said in a statement, “took place in the meeting to discuss some matters in Iraqi currency and controls foreign exchange and their impact on the fluctuation of Iraqi dinar against the dollar.”