Expert: recession stock lift dollar and threatens to force hard currency
Thursday, 12-04-2012 12: 14 pm
Baghdad (newsletter): Noted economist as beautiful a depression in Iraq market for securities as a result of a decline in stock prices, led to a shift towards buying the dollar trading, so raise the price paid to the dinar.
Beautifully (News Agency news) on Thursday: there are several factors led to an increase in the value of the US dollar against the Iraqi dinar, such internal factors as increased drag on the dollar by traders and other external consequence exposed Syria and Iran of economic blockade, what made these countries they consult to Iraq to buy the dollar to save their own currency.
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He added: the inertia and the recession which hit Iraq market for securities as a result of a decline in stock prices, dollar-buying pushed the companies towards the emancipation of toolmaking this recession in the Bourse, the increased demand for the dollar before the Central Bank, noting that sales of limited Central Bank cannot sell large quantities of the dollar because demand for purchased large and affect local currency that is dollar cover for them.
Jamil said: that the Central Bank cannot pump large amounts of dollars to local markets and unable to stop sales, this will lead to more price increases, so the regulatory and inspection in specialized scientific circles to protect the local currency to take to curb this phenomenon as threatening Iraqi currency and will lead to the entry into force of the hard currency of the country.
The Iraqi dinar has seen a decline in its value against the US dollar, the US dollar is equivalent to b (1300) dinars.
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