Dinar will become desirable internationally after the departure of Iraq from Chapter VII, says Chairman of Economic Information Center

Posted by on Oct 27, 2013 | Leave a Comment

14-07-2013 07:23 AM

Baghdad (newsletter). Chairman of the economic information center said Dergham Mohamed Ali, the Iraqi dinar currency becomes desirable handle internationally after the departure from Iraq of the provisions of Chapter VII of the UN.

59624c79cf4b8e4779fc1993fd87b008He Mehmet Ali (News Agency): to exit Iraq from Chapter VII would make the Iraqi currency internationally accepted and more broadly than it is currently, where previously accepted regionally and in States that have tourists.

He continued: but the range will expand to increase transactions and increasing international openness as long as there is a blanket guarantee in foreign currency for domestic currency.

He added: there is no direct link between the departure of Iraq from Chapter VII and the dinar exchange rate exchange rate but linked to the domestic factors, linked to the management of monetary policy in the country through the auction and supply and demand and the effectiveness of speculators influence, in addition to the impact of lower inflationary shocks.

The UN Security Council voted to exit Iraq from Chapter VII after Iraq meets its obligations to pay debts to some States

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