Date: 08/09/2012 11:11:29 Saturday
Baghdad (news) .. Attributed the economic expert Jalil al-Rubaie, the reasons for fluctuations gold price in local markets to instability exchange rate U.S. dollar against the Iraqi dinar.
Rubaie said (of the Agency news) on Saturday: The instability of exchange rate U.S. dollar against the Iraqi dinar during the current period led to volatility gold price in the domestic market, the fact that the relationship associated with them counterproductive, the more the dollar gold price, and vice versa.
added: that the value of the U.S. dollar in Iraq experienced strong and led to display large amounts of gold in the domestic market in order to bring the dollar and preserve the value of dinar, which led to lower its price relative to what it was in the past.
They pointed out: that Iraq is affected by global markets and by changes in the prices of gold, being dependent on imports significantly and has nothing issued either oil, many oil-importing countries when you see The price of oil has increased, they are trying to reduce the value of the dollar through the supply of gold in the domestic market.