Economists: the devaluation of the dollar does not affect global exchange rate locally
Baghdad (news) / report / Bushra Khalil / .. After he saw the U.S. dollar drop big its value in the global markets during the last period as a result of crises in the financial and economic hit some countries in the world, through some economic officials expressed fear of the continuing decline in value and the potential impact on the exchange rate on the domestic market, what made them think about the possibility of replacing reserves Bank Central of hard currency to gold, which is a safe haven for money. ,
but the number of deputies and economic experts warned of the adoption of the central bank’s gold and dispense with the dollar as a precaution critical of the national currency, stressing their talk (of the Agency news) that the decline in value of the dollar globally will not affect the price cashed against the dinar locally.
member of the Finance Committee MP / Kurdistan Alliance / Najiba Najib, confirmed: that Maimitlleke Central Bank reserves of an estimated $ 67 billion is a guarantee for Iraq if it passed unforeseen circumstances or emergency situation. said (of the Agency news): Iraq in this period is in transition and that any attempt to invest these funds to projects or buy gold due to fluctuating prices in the world market will this amounts to a big loss, noting that the dollar is the guarantee of the largest of Iraq and while Thiolh into gold will lead to changes to اتصب interests country.
explained: that if the price of the dollar globally will be a temporary and limited does not deserve that the central bank to change its reserve of hard currency into gold, indicating that the oil revenues, a very large more than Estimated That Maysnd Iraq and keep wallets on reserves and increase it.
For his part, explained expert economic affairs Majid picture, the devaluation of the dollar globally does not affect directly and heavily on the price of the Iraqi dinar, but if he was here as a significant drop too, because the policy Altkadih pursued in Iraq is a hard-line policy and relies on linking the Iraqi dinar dollar-linked semi-integrated and said Suri (of the Agency news): that the higher purchases of the Iraqi dinar will give room for maneuver to raise the size of the reserve’s sovereign central bank and this relationship is interdependent and rely on monetary policy as well as the maneuvers carried out by the Central Bank in order to take advantage of these processes.
continued: as well as increased demand for the dollar by the government and the possibility of providing the Iraqi dinar and the withdrawal of the surplus of the dinar in the market in order to meet the needs of the Iraqi government.
between: that gold is a monetary policy based on the components of the reserve’s sovereign central bank, noting that if the bank’s policy is to put a large portion of its reserves in the form of Gold certainly will buy gold in case of low price and the possibility of exploiting the global market and local communities in how to increase reserves and diversify the portfolio reservists sovereign central bank, whether gold or other currencies.
For his part, has ruled out a member of the Economic Commission MP / National Alliance / Ibrahim stirrup, there will be a decrease global large in the dollar being protected by, United States U.S. and other European countries, adding if dropped its price does not affect Iraq will support the dinar Iraqi and makes a valuable economic and monetary union and therefore does not affect even the reservists.
said stirrup (of the Agency news): The Reserve central bank gold is a great cover for Iraq and that all countries in the world possess reserves of gold in addition to currency cash, referring to the inability to act Bahtiat gold or monetary reserves to in case of emergency. said: that in the case of low dollar will rebound Iraqi dinar, noting many states passed financial crises large and them Gulf states, but Iraq was not affected because the central bank reserves of cash and gold is estimated at about $ 67 billion.