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Member of Finance Committee: the formation of a joint commit

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Member of Finance Committee: the formation of a joint commit

Unread postby Stillw8n » Wed Apr 18, 2012 8:52 am

Member of Finance Committee: the formation of a joint committee of the Ministries of Finance and Planning and the Central Bank to control the value of the dollar

On: Wednesday 04/18/2012

Baghdad (news) .. Announced by the Finance Committee MP / National Alliance / Secretary Hadi Abbas to form a joint committee by the Ministries of Finance and Planning in addition to the Central Bank to discuss the reasons for the high exchange rate of the dollar against the dinar, and follow-up spent to control the value of hard currency in the country.

Abbas said (of the Agency news) said on Wednesday: The General Secretariat of the Council of Ministers called for the formation of a joint committee by the Ministries of Finance and Planning as well as the Central Bank to discuss the reasons for the increased value of the dollar through to see how the exchange and circulation in the local markets to control the exchange rate of the dollar against the dinar and the reduction of the continuous increase in value.

He added that this committee will have a practical plan field during the next month to maintain the stability of the Iraqi dinar exchange rate against the dollar, to avoid economic problems may be generated as a result such as high rates of inflation or otherwise.

mentions the exchange rate of U.S. dollar rose against the dinar Iraqi and dramatically during the last period of up to price (1300) dinars per dollar, and during the proceedings of the Central Bank of rapidly began to fall gradually to settle on a price (1260) dinars, and some economists have stated that the reasons for these increases is unprecedented to the value of the dollar against the dinar is the presence of illegal to smuggle hard currency of the country to neighboring countries, specifically to both (Iran and Syria) because of the need of those countries to the currency, as a result of the economic blockade imposed on them.

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