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Author: The future of Iraq
10/08/2012 12:00 am
BAGHDAD / future Iraqi
CBI likely improve the Iraqi dinar against foreign currency in the near future. The deputy governor said the appearance of Dr. Mohammed Saleh, said that the development of the Iraqi dinar began to improve the difficult international currencies and will improve more over the next few days as a result of increased oil production, which seder substantial financial resources of hard currency, making the country away from the global economic crisis.
Saleh pointed out that the inverse relationship between the dollar and gold, when rising dollar reduced the value of gold and vice versa, stressing that the global crisis that hit Europe and America have made the demand for gold is increasing for adoption buffer stock to keep the wealth has led to increased price on the world markets with low value of the dollar . and added that some countries when you see the unstable situation of the dollar in trading world they sheltering other alternatives and يتحوطون them are either gold or oil or food viable storage, pointing out that the gold the best alternative to the dollar to maintain the global wealth.
In the same context confirmed a member of the House of Representatives Najiba Najib that the process of smuggling money abroad violating regulations and instructions issued by the Central Bank had a negative impact on the national economy. Najib said the smuggling operation funds reflected the increase in the exchange rate of the U.S. dollar against the Iraqi dinar which affects the country's economy.
She said Iraq's economy is still economical ريعيا depends 93% on oil, which is sold in dollars, as well as the fact that imports are in hard currency, and these factors played a major role in the exit of hard currency from the country, as well as the fact that a country's political, economic and security has big role in currency smuggling out of Iraq. She pointed out that Iraq's geographical location next to Syria and Iran and what is happening in the region has had a clear influence in the exit of foreign currency abroad, especially since these two countries are suffering from the siege internationalist and a shortage of hard currency resources.