US dollar crisis in Iraq “temporary” and will be resolved soon

5-19-13 Baghdad – Iraq News Network:    Financial expert Samir nasiri US dollar crisis in Iraq “temporary” and will be resolved soon. Nasiri said in an interview that the Iraqi market crisis on the high dollar exchange rate for the dinar is temporary and that the Central Bank said the reserves rose to 74 billion dollars, noting that this is a cover for the dollar. Nasiri said: the dollar’s rise at the moment because the dollar speculators in the market, this temporary condition can be controlled. He noted that Iraq has gone through a very difficult situation for high and low exchange rate dinar and the dollar so that monetary policy if dealt with properly and correct mechanisms can control the financial market and this not only in cooperation with private banks through consultation with them on economic policy that is virtually non-existent at present. And the dollar is bought for private banks and Government meetings daily to buy and sell foreign currencies held by the Central Bank of Iraq, which is supposed to finance private traders or for tourism and study abroad but this money gets when those banks that register a clear violation is calculated on the instructions of the Central Bank.

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