Don961 » October 11th, 2016
Central bank: the large number of holidays and dependence on imports and the rise in the dollar
Ali Abdul Salman 82 10/10/2016
Spokesman denied the central bank easier Jabbar to be the central bank's hand in what is happening from a rise in the dollar's exchange rate against the Iraqi dinar, as pointed out factors that impact on this rise, including the large number of public holidays, and the survival of the country a net importer of goods by 95%.
Jabbar in Tsrihsahvian procedures carried out by the Bank on the audit records and documents of banks and companies banking and financial conversion finds it refers to sell the dollar at a fixed exchange rate of 120 000 dinars, compared to $ 100 in spite of the sale of those banks and companies to the dollar at a higher price than that.
Stressing that the central bank is considered a regulatory point of dealing with papers and documents and he can not control those companies and banks without the help of the security and executive bodies.
He continued by saying that what the bank can do to offset the dollar's exchange rate if the rise in the Iraqi market is pumping amounts of dollar to the market but that is followed by a lot of problems, including economic, political, stressing that the only solution to the problem of rising dollar exchange must be shared between the central bank and the federal government, which said that it bears the bulk of the solution through its control of the Ministry of Commerce and economic security of the institutions to regulate operations of goods entering the country.
He also noted a spokesman for the bank to be the large number of public holidays granted by the government to other departments are also affecting the dollar's exchange rate to the fact that government banks are closed during these holidays.
He attributed Jabbar at the conclusion of his speech, the high dollar exchange rate to the fact that the country is one of the importing countries for goods by 95%, and this makes the heavy demand for the dollar by virtue of a reason to rise demand for the dollar by traders importers of goods size.