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Sunday, December 9, 2012

Economists: Robust, free market economy and strong industry will raise value of IQD, 9 DEC


Economists: Robust, free market economy and strong industry will raise value of IQD

Strengthen national industries increase confidence in JD

Observers believe that the advancement of the value of the Iraqi dinar coupled by a free and robust economic through strengthening local industry and make it comparable industries developed world, noting that the country is an important investment environment but the local currency is the lowest value among other currencies in the region.
The head of the Association of private banks Abdul Aziz Hassoun’s (range): “It is inconceivable to talk about a rise in the value of the Iraqi dinar before we find industry contain the phrase (made in Iraq) industry is Iraqi is the very foundation for the construction of a currency with a high value comparable to the value of other currencies explaining that the local industries at the present time below zero, as he put it.
For his part, explains Hussein Kazaz banking expert that the value of the Iraqi dinar depend on the value of its exports and its products, adding “We can not rise dinar without the existence of a domestic industry.”
And stresses the need to work on creating new products do other sectors and absorb the workforce and generate large revenues added to the budget through exports increases the confidence of the Iraqi dinar.
And refers Kazaz’s (range) the government should work to strengthen the industry can not get to the high level of production in overnight noting “there accumulations old may slow the growth of the Iraqi economy and can not raise the value of the dinar duration a year or two, but it is longer than much.
She had Reuters reported that thousands of people in the United States still expect a surge in Iraqi dinar and who was described as one of the greatest investment opportunities in the world.
He says one of speculators in Las Vegas that “the escalation of the Iraqi currency does not need to question, but Iraq when will restore raise the value of its currency, it will be the Iraqi dinar in the end a great value probably would be the highest in the world so that the dinar if rose a penny will be valuable profit 900 percent.”
He says the report published by the agency Baghdadiya News that some speculators expect the high value of the dinar against the U.S. dollar to become the Iraqi dinar equals between 1 to 3 dollars, which represents gains of between 116,500% to 349,700%. Noting the one traders dinar in the United States that he sold worth $ 577 million of Iraqi dinars to its customers in 2011, “he said, adding that his customers in the United States” were from parents, teachers, police officers and construction workers.
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