Illegal conversion of USD negatively effects the value of USD and IQD in the country
Posted: December 17, 2013 in Iraqi Dinar/Politics
(Legal) Convertibility of the dollar to the outside will not affect the currency
Ruled out a member of the Economic Commission Attorney Nora Albjara, the effect of converting large amounts of dollar to the outside through the central bank auction on what exists of it in Iraq.
She Albjara in a press statement, said that “converting large amounts of dollar legally through an auction the central bank will not affect the amounts found in Iraq from the dollar, but the dollar’s convertibility illegally through mafias to smuggle the dollar reflects negatively on what exists of the dollar in the country .
“and added:” The conversion of hard currency abroad through the central bank auction will configure amounts cumulative work on the composition of cover and protect the dinar abroad.
“and continued:” The conversion of dollars illegally will lead to the decline of the dollar at home and the fluctuation of the price, which is reflected negatively on the Iraqi dinar. “