Adoption of the Local Currency in Commercial Transactions Boosted Worth
|July 21, 2014||Filled under Iraq News|
Iraq News –
Hussein al-Tamimi said financial expert Ali Fukaiki importance of adopting measures trade in local currencies across the border for its role in facilitating the smooth flow of traffic of goods and international cargo across the countries that adopt this process.
Added in an interview with “morning” that cross-border trade in local currencies in vogue among the countries the world, pointing to the importance of activating the measures adopted in the present time in the trade of the country during the current circumstances to supply what you need the local market of goods cover the growing domestic demand.
Pointed to the presence of several international agreements to be adopted commercially in the world and fold what was approved by the agreement between the governments of Turkey and Iran commercial exchange in local currency for the two countries, as well as between Malaysia and its neighbors using local.
Said: China adopts many foreign projects, particularly the Japanese use the Chinese currency, the local of the (yuan) and a way to settle the payment obligations urgent and those adjustments less susceptible to the vagaries of the process in foreign currency exchange rates and to avoid margins, the difference required by the conversion process through the dollar.
Was Fukaiki has between in an earlier statement that what happened from trade actively across the border in (spend Klar) and (Haj Omran) in Kurdistan in the north and being now in the Mehran and Shalamcheh south vivid example of this trade, which resulted by the accumulation of reserves, cash Iraqi significantly with the bankers and traders Iranians, Syrians and Turks and others promoted the acceptance of these Iraqi dinar confidence in him over the past five years, which did not happen to him such confidence before that over the past half a century earlier.
So stressed competent in economic affairs Hadi Hndas that Adoption of the local currency in international trade enhances confidence in Iraqi dinars, especially that most of the country’s trade organized with neighboring countries and that they accept to deal in the local currency of Iraq, and in this aspect many positives, mainly to facilitate the supply of materials to the country, where access to hard currency subject to a time through organization requests go through a series of references and this delay deliveries of materials.
Drew during his speech for the “morning” that this approach will enhance the prestige of the local trade internationally, having gained currency process international acceptance, citing that it supported a financial reserve a big added its weight to a new After stages ravaged by inflation.
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