HAT TIP: The IQD Team
04/12/2012 :: Dubai – East April 12: Register Iraqi dinar exchange rate in local markets today 1228 for every dollar after that the price was yesterday 1223 per dollar. And less than this price for the high levels reached dinar earlier this week after rising demand for foreign currency as it recorded the dinar before three days for every $ 1292.
He said traders and specialists that there is fear of buying when shaking exchange rates do not settle if stabilized the market for 1,200 dinars, or even on 1500 per dollar there is action and movement, sale and purchase, but the ups and down kill the market in all his joints, where sales fell by about 50 percent when it appeared oscillation week ago.
They said the fact that Iraq the only country among the closest neighbors that get huge revenues from oil in dollars, it helped a lot on smuggling in addition to the political crisis situation within the country, which in turn reflected lower confidence in local currency.
For his part, said the Iraqi Central Bank Governor Sinan Shabibi said Iraq which has a monthly revenue of oil more than seven billion dollars in reserves Tkdrbenho has $ 60 billion, but this does not mean it’s used without the domination or control.
The Shabibi said in previous statements that the political situation unstable in Iraq and in the surrounding area and the siege imposed on Syria and Iran has created a great demand for the dollar, leading to the high exchange rate of the currency recently.