http://www.edinarfinancial.net/news/?quer=&nm=&ny=&nn=464 Iraq Central Bank denies reducing the rate of the dollar against the iraqi dinar December 16, 2006
Dr. Madhhar Mohammad Saleh, Head of Research and Statistics in the Central Bank Iraq, said in a meeting with reporters and Iraqi economists last Sunday: that the issue of determining the exchange rate of the dollar against the Iraqi dinar is not possible, now, for two reasons: first, the reserve capacity of the bank is not absolute, and second is the factor of the price increase. He added: observing the general trends point to higher prices in return for a lack of improvement, which makes the dollar reduction to this value impossible at the present time, in addition to the limited financial capabilities of the Bank. He explained: that the significant decline in the dollar, directly after the fall of the previous regime, was caused by the flow of billions of dollars to Iraq and distributing them among employees as well as opening exchange and restrictions. He pointed out: that at the present time and because of the deterioration of security and the high rate of inflation, the devaluation of the dollar is not expected at all.(Source)ALSabah
