Expert: high rate of inflation leads to weak purchasing power of the Iraqi dinar

Posted by on Oct 28, 2013 | Leave a Comment

05-10-2013 11:29 AM
Baghdad (news) .. Expert stressed financial affairs Majid picture, that in the event weakened the purchasing power of the Iraqi dinar means that the existence of inflation offset by a rise in prices, which greatly affects the economic stability of the Iraqi dinar.

said Suri (of the Agency news): The economic stability means the stability of the exchange rate inside and abroad, noting that any weakness in the Iraqi dinar weakened economy, and affect all economic processes existing accounts.

between: that the decline in the purchasing power of the dinar will raise the value of the dollar due to increased demand and declining confidence in Iraqi dinars, which مايؤدي to economic instability. , and continued: This matter will force the central bank to meet the demand for the dollar by offering a larger amount of the dollar in the auction, and affects the reserve bank of hard currency. saw the Iraqi dinar exchange rate declined severely in recent months, which was born upheaval significant in the local market but soon settled price to the current time

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