Saturday, 24-03-2012
Deputy: worsening security in neighbouring States will withdraw the dollar and raise its value before the Iraqi dinar
Baghdad, Member of the Finance Committee warned Deputy/National Alliance/Abdul Hussein Al-yasseri, from the increased demand for US dollar-buying because of the deteriorating security situation in neighbouring States, calling for not reducing the sale of the dollar in the Central Bank auction when demand for buy it to preserve the value of the dinar against the dollar.
He said Al-yasseri (News Agency news) on Saturday: increased demand for buying the dollar gets as a result of war or political motivation in a particular country, thereby generating a kind of propaganda for peoples that the currency will fall or landing, it begins the process of dragging the dollar from neighbouring States as international currency dealing by all States.
He added: you can't reduce the sale of US dollar in the Central Bank auction when demand for purchase, to maintain the exchange rate of the Iraqi dinar against the dollar and, in the event of reduced sales would lead to an increase in the value of the dinar.
And parliamentary Finance Committee Member said: the high price of US dollar to Iraqi dinar during the coming period in case of continuation of the process of withdrawing currency from local markets without the Central Bank would take action through the sale of the dollar in its auction.
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