Increasing demand for the Iraqi dinar in the Gulf bourse
Baghdad / term financial expert said Bassem Jamil Anton that the Iraqi dinar began recovering after the rise in the value of demand in the GCC banking markets, pointing out that the dinar has appreciated against the UAE dirham in Dubai banking market rate (0.26%) and a testament to the strength of the economy National. Anton said that the currency is the face of the economy, when the Iraqi dinar is supported in a currency other a “dollar”
Shall be there in return pumping Iraqi crude oil and an increase in exports, especially since there is a high priced oil in the world market, noting that Almarbin in countries experiencing avoid its economy are buying the Iraqi dinar. added: because they expect that the Iraqi dinar may occur when major breakthroughs and increases value and recovery occurs in the Iraqi market, in addition to the frequent talk about the implementation of the project to delete three zeros from the Iraqi currency, which may give the strength and momentum of the Iraqi dinar against foreign currencies, all these things have contributed to the turnout speculators on world markets to buy Iraqi dinar.
He added: that the report issued by the Market Banking Dubai, which pointed to the high value of the Iraqi dinar against the UAE dirham by (0.26%), demonstrates that the Iraqi dinar began recovering and the national economy strong as a result of the attributes of the large reserves of natural resources as well as foreign currency which is a cover of the dinar. The report revealed the exchange market in Dubai for high Iraqi dinar against the dirham over the past week by 0.26%.
According to the report: down, relatively speaking, the movement of conversion, speculation and currency exchange last week in companies traded currency in the United Arab Emirates, and it coincided with the start of the new school year and the end of the season vacations, where decreases at this time of the year liquidity in the forex markets, and in the currency market in the UAE, the Iraqi dinar rose against the dirham over the past week by 0.26%, marking 0.0032 In خصوص pumping dollars economic expert said Abdel Moneim Kazaz, that pumping large amounts of dollars and sold to banking offices in order to reduce the value of the dollar against the dinar helped encourage money laundering and exploitation of some owners banking offices citizens to raise the exchange rate of the dollar.
said Kazzaz: Conducting the central bank to reduce the exchange rate of the dollar against the Iraqi dinar by injecting large amounts of banks and sold to banking offices stimulated owners to seek to profit by raising prices of the dollar against the Iraqi dinar to exploit citizen. He added: that most of these dollars go outside Iraq to buy imported goods and services and some of those dollars go to the private sector to sell at high prices in order to make a profit, calling, the central bank to take action alternative and correct to devalue the dollar against the dinar. pointed out: that Iraq’s economy is unable to meet the needs of the consumer and all goods and services are imported makes the high price of the dollar to import goods and services from abroad. He explained: that the activation of tariff law will not exit the dollar abroad to import goods and services reduces the value of the dollar against the dinar. http://www.almadapaper.net/news.php?action=view&id=72076