BAGHDAD Mustafa al-Hashimi
demanded economic academic Dr. Majid Baidhani strengthening the peg to a basket of world currencies to distract the global financial crisis effects and the fluctuation of the dollar exchange rate in the economy of Iraq.
and a basket of currencies (Currency Basket) is a high possibility a variety of other
currencies grouped together in relation to a basket of currencies (such as ECU or SDR).
Sometimes used by currencies to fix the price usually in a trade weighted basket, commonly used in contracts as a way to avoid (or reduce) the risk of volatility Alamlh- according to Encyclopedia and Akebedea-.
He Baidhani told (morning) that the US dollar and for decades a global currency covered by US economy and Aagtiha any cash reserves, indicating that the rest of the global reserve currency, such as gold and covered with a basket of currencies.
He believed that the global crisis that occurred in 2009, shook the United States and the world economy, which emphasizes the need to diversify the Iraqi currency to a basket of currencies cover sterling and the euro, yen and other Kganah and reduce or disengage from the dollar.
He stressed that the global economy is determined by fluctuations in the three Asaaralaqtab oil, gold and the dollar of what requires to take measures in the event of a decline in prices in the international stock markets,
pointing out that the diversification of the basket of currencies to hold in place globally as well as it limits the financial crisis.
Baidhani and called for a new economic legislation commensurate with the global changes in the global financial system structure and level of development.