Date: 2012-10-03 12: 56: 32 Wednesday
Baghdad (News)/report/carries dreams/… Experiencing chronic dollar turnout, as a result of insatiable customers and semi-permanent their thirst for hard currency, in Iraq.
As demand for the dollar is affected by several external factors, such as regarding conditions of regional States, namely Iran and Syria, and other internal Central Bank policy.
Director of the Warka Bank Muhammad al-samarrai attributed the reasons for the increased demand for the dollar to higher demand for goods and imported goods.
Samurai described Iraq as “the heart of the dollar” a blockade on Iran and Syria, they are turning mechanism to secure the needed hard currency through business dealings.
Beautiful name Economist Antoine, clear: Syria and Iran need to strong currency to save its economy from imminent collapse, so they resort to pull over to hard currency from Iraq with a variety of methods.
He said that Iran had implemented economic plans to base its economy, including cutting ahlund River dewatering and agricultural crisis in agricultural products, and thus compel Iraq to increase import from Iran in hard currency.
He said that one of the Central Bank plans to raise the exchange rate of the dinar against the dollar is increasing the width of the dollar at banks and exchange offices, to reduce demand and reduce its price, easy trading dollar profusely.
He is a member of the Finance Committee, a Deputy from the Iraq Coalition/good/aozmn (for news News Agency): the political situation in the Middle East, flip-flops and slow growth of the Arab economy, stimulated to make use of the dollar as the currency guaranteed to improve economic conditions.
He said that the tightening of the economic embargo on Iran and Syria bring need to sober work to treat their economy in danger of falling, and no choice better than Iraq to that end, through trade.
And aozmn: that some citizens and venture capitalists who transfer money to the US dollar to safer countries feared Syrian and Iranian crisis spilling over to Iraq, demand for the dollar.
According to economic analyst said Ibrahim Al-Mashhadani (News News Agency): the complex conditions in the neighbouring countries to make us safer currency of Iraqi dinar and increased uptake.
He noted: some Iraqi mafias cooperating with Iranian and Syria sets to pull the dollar from Iraqi banks and diverted to neighboring countries at the biggest for attribution of Iranian and Syrian economy.
He added: the dollar is the base currency to some traders in their dealings with other States.
Al-Mashhadani said: the Iraqi dinar weakened against the greenback due to the explosion and rising commodity prices locally, indicating that the presence of zeros in Iraqi currency making it large cash block is prone to theft and fraud, prompting some citizens to convert them to dollars to keep them from any internal or external notification.