Date: Thursday, 14-06-2012 11: 52 am
Baghdad (newsletter) … Financial Committee member explained Deputy//National Alliance, Abdul Hussein Al-yasseri, Iraqi dinar exchange rate against the US dollar of Central Bank reserves.\
He said Al-yasseri (News Agency news) on Thursday: improvement of the strength of the Iraqi economy and the Central Bank reserves and the presence of the private sector in private banks to raise exchange rate contributed to the dinar and the existence of the positive balance of payments shows some foreign countries ‘ exports of goods over imports of all of these factors lead to the lifting of the dinar exchange rate against the US dollar.
Al-yasseri referred to: “cash theory” which States the general acceptance of the currency and attracting force in all countries such as the US dollar which has acceptable around the world while it handles the Iraqi dinar only in Iraq, and continued: request if found, its price is determined dynamically through dynamic supply and demand if there is a rise in price of this cruise leads to greater currency bad domestic or foreign.
He added: the general orientation of the Central Bank (2003-2004) to purchase a Iraqi banknotes to reduce what is displayed in the Iraqi market and increases demand and pushing the dollar in the Central Bank auction and buy local Iraqi currency dollar and even determine price currency thousand six hundred dinars and then thousand dollar Bank continued to sell dollar foreign currency Iraqi dinar demand lifting of lack of presence in the market and reduced the price of the dollar is more than the Iraqi dinar.
And between Al-yasseri: that Iraq has oil revenues in dollar terms it can make thousand foreign BD $ and can withdraw the Iraqi currency and pump more dollars and reduce the width of the Iraqi currency, increase its value and all of these factors lead to higher Iraqi exchange rate against the US dollar.