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Governor of the Central Bank: We have agreed with the Association of Banks to lower exchange rates of the dollar and warn of intervention in our work
6/20/2015 11:34
Baghdad
The governor of the Central Bank on the Keywords, on Saturday, there is a common position between the Central Bank and the Association of private banks to maintain market stability, and pointed out that stability can not be achieved only if there is management able to take actions and decisions are "independent and flexible", as warned of the impact of intervention in Central Bank to stabilize the exchange rate, called to not be confused with the work of the central bank and other departments.
He said on the Keywords, during a joint press conference with the President of the Association of private banks in Iraq and Wadih Handal held in Baghdad and attended (range Press), that "there is a common position between the Central Bank and the Association of Banks and agreement on the translation steps and read the phenomena correctly and set trends for the understanding to maintain stable prices and avoid the occurrence of such shocks, "noting that" the central bank is moving towards simplification of procedures. "
Keywords noted, that "the main objective of the Central Bank is to maintain the stability of the market and exchange rates," stressing that "this can not be achieved only by an administration capable of taking action and making a stable and flexible."
He warned Keywords, of "the impact of interference in the work of the central bank through some erroneous statements and analyzes and confusion on the stability of exchange rates", and urged not to "confuse the functions of the central bank and other departments in the ministries of trade and finance and interior."
He pointed Keywords, that "the dollar exchange rate currently stands at 1250 dinars," expected to "decrease the exchange rate within the next week after the decision to raise the proportion of the 8%".
The Prime Minister Haider al-Abadi stressed, on Thursday (the eighteenth of June 2015) on the need to follow up and address any problematic novel about the dinar exchange rate against the dollar in the local markets, as approved crisis cell on the proposal of the Central Bank delete the amounts added on remittances, stressed the need commitment to the oil agreement with Erbil.
The Iraqi Central Bank announced, in (the eighteenth of June 2015), sold for $ 203 million to applicants in the currency auction, as he emphasized the need to cover the market.
Economists attributed, in the (16 June 2015), the high dollar exchange rate against the dinar to the floundering economic policy, and the neglect of the productive sector, while the Parliamentary Finance Committee confirmed that the concerned state has taken action to support the value of the dinar, which increase the width of the dollar in the market Package and acceptance of all purchase orders submitted by traders and banking companies and banks, and the abolition of tax deposit and customs that were collected in advance by eight percent.
Finance Committee in the Iraqi Council of Representatives promised, on Monday (the fifteenth of June 2015), that many of the question marks are raised on the outcome of the Iraqi Central Bank action to stop the deterioration of the value of the dinar against the dollar, while the economic and investment commission parliamentary felt that many of the economic crisis solution is to amend the law so as to ensure the bank's independence from the government, and carry Bankers "abuse" the central bank responsibility for a stronger dollar, despite the latter denied this and accused them of responsibility and speculators, and vowing action "deterrent"
The Central Bank of Iraq, decided Tuesday (June 16, 2015), considered Saturday formally durable, banks to meet the need of the currency, noting that it reduced the duration of the special deposit amounts from ten to five days.
And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.
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6/20/2015 11:34
Baghdad
The governor of the Central Bank on the Keywords, on Saturday, there is a common position between the Central Bank and the Association of private banks to maintain market stability, and pointed out that stability can not be achieved only if there is management able to take actions and decisions are "independent and flexible", as warned of the impact of intervention in Central Bank to stabilize the exchange rate, called to not be confused with the work of the central bank and other departments.
He said on the Keywords, during a joint press conference with the President of the Association of private banks in Iraq and Wadih Handal held in Baghdad and attended (range Press), that "there is a common position between the Central Bank and the Association of Banks and agreement on the translation steps and read the phenomena correctly and set trends for the understanding to maintain stable prices and avoid the occurrence of such shocks, "noting that" the central bank is moving towards simplification of procedures. "
Keywords noted, that "the main objective of the Central Bank is to maintain the stability of the market and exchange rates," stressing that "this can not be achieved only by an administration capable of taking action and making a stable and flexible."
He warned Keywords, of "the impact of interference in the work of the central bank through some erroneous statements and analyzes and confusion on the stability of exchange rates", and urged not to "confuse the functions of the central bank and other departments in the ministries of trade and finance and interior."
He pointed Keywords, that "the dollar exchange rate currently stands at 1250 dinars," expected to "decrease the exchange rate within the next week after the decision to raise the proportion of the 8%".
The Prime Minister Haider al-Abadi stressed, on Thursday (the eighteenth of June 2015) on the need to follow up and address any problematic novel about the dinar exchange rate against the dollar in the local markets, as approved crisis cell on the proposal of the Central Bank delete the amounts added on remittances, stressed the need commitment to the oil agreement with Erbil.
The Iraqi Central Bank announced, in (the eighteenth of June 2015), sold for $ 203 million to applicants in the currency auction, as he emphasized the need to cover the market.
Economists attributed, in the (16 June 2015), the high dollar exchange rate against the dinar to the floundering economic policy, and the neglect of the productive sector, while the Parliamentary Finance Committee confirmed that the concerned state has taken action to support the value of the dinar, which increase the width of the dollar in the market Package and acceptance of all purchase orders submitted by traders and banking companies and banks, and the abolition of tax deposit and customs that were collected in advance by eight percent.
Finance Committee in the Iraqi Council of Representatives promised, on Monday (the fifteenth of June 2015), that many of the question marks are raised on the outcome of the Iraqi Central Bank action to stop the deterioration of the value of the dinar against the dollar, while the economic and investment commission parliamentary felt that many of the economic crisis solution is to amend the law so as to ensure the bank's independence from the government, and carry Bankers "abuse" the central bank responsibility for a stronger dollar, despite the latter denied this and accused them of responsibility and speculators, and vowing action "deterrent"
The Central Bank of Iraq, decided Tuesday (June 16, 2015), considered Saturday formally durable, banks to meet the need of the currency, noting that it reduced the duration of the special deposit amounts from ten to five days.
And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.
[You must be registered and logged in to see this link.]
