Alert: The reserve to support the value of the national currency
Posted by Iraq News Journal on Apr 15, 2014 | Leave a Comment
Baghdad – Mostafa Hashemi: Suri described Balmusdh protective oil price fluctuations represents the economic stability of any country component of equal opportunities for the supply and demand for services in it, where he sees an economist that the presence of stability as well as to isolate external influences and minimize the national economy and revitalize the work of the productive sectors and solving economic problems internal push towards strengthening and enhancing the value of the dinar.
overall stability , said economic expert, Dr. Majid picture that the economy is affected by a factor of stability is totally reflected directly on the value of the currency as well as the presence of internal and external influences play a role in determining that value.
He added picture in a statement (morning): The amount of cash reserve represents bumper biggest fluctuations in oil prices follows affect the fluctuation of the exchange rate where it not for the strength of the amount of the reserve sovereign to the value of the dinar. purchasing power and has a cash reserve of the dinar – as announced recently – more than 80 billion dollars paving the way to be because of the Iraqi currency purchasing power larger than it is now, as well as that it will contribute significantly to raise its value against other foreign currencies.
In a time when cash reserves of some countries declines or great heights of a sudden, the cash reserves of the Iraqi paced a solid upward stable away from the fall or the sudden rise. economic reforms and pointed out the picture that enhance the value of the dinar comes by isolating external influences and mitigate the effects of Internal factors of instability in things in general and economic chaos, as the increased demand for goods and services lead to increased demand for the dollar.
stressed that economic development impact of the strengthening of trust and strengthening of the dinar itself, where the economic reforms and the elimination of the problems that hit the Iraqi economy represented by unemployment and the housing crisis, poverty and diversify the services that will balance the need for services in the home, explaining that the activation of the productive sectors will greatly help to provide employment opportunities that reduces imports. domestic production and stressed that offers the possibility of parallel supply and demand for goods and services and local production within Iraq will lead to enhance the value of the dinar, adding that the currencies of other countries as dollar, euro, yen and the yuan and other currencies derived its strength in the currency market of the power economy of their countries.
they also did not get the position, but to solve its economic problems of the Interior. dollarization and hinted the picture that dollarization phenomenon in Iraq, something naturally, especially that all imports of external financial relating to oil is in U.S. dollars, and therefore linked to the national economy in this currency is very large because of all exports and imports in dollars.
added that the phenomenon of resorting to the dollar and Aktnazha linked to the weakness of the local currency and to go to a strong currency in which the trust to be saved, stressing that confidence in Iraqi dinars strong at the present time, because it has a reserve of sovereign strong.
revaluation was an academic economist earlier called for those in charge of the economic sector in Iraq to re-evaluate the value of the currency after it enhances the cash reserve quantities of gold. said Dr. Majid Baidhani he supposed After adding about 1.5 billion dollars to the Central Bank reserves to rise the value of the dinar to a higher level compared to its exchange rate against the dollar, praising the procedures followed in the context of monetary policy, stressing the need to speed up the move to re-evaluate the dinar to strengthen the foundations and pillars of the national economy.
should be noted that the bank Central boosted its reserves of gold to up to 90 tons after announcing the purchase amounts of it for the purpose of selling them to the public in support of enhancing the value of the local currency.
