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Anton: Currency stability is better than incremental backup
June 30, 2015In:
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic analyst Bassem Jamil Anton said that the stability of the dinar exchange rate is an important step to be achieved, and that this stability is better than incremental backup, pointing out that the increase in the Central Bank to inject the dollar will not affect the dollar reserves of the Bank , but the interest of the existence of the reserve is used to achieve a balance.
He added Anton's (IMN), that "the central bank re-balance the market and good monetary policy to keep the value of the Iraqi dinar, while net buyers to put up large quantities in the market to fill the demand and restores the dinar to rise."
He predicted that "the continuing rise in oil prices offset the shortfall in dollar reserves in the Central Bank".
And committed Article 50 of the general budget for the financial year 2015 Law, the Central Bank establishes its sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dollars a day with exercise justice in the sales process, to co-bank demand at the auction to provide the introduction of cargo documents Data tax and settling accounts and savings Alkmarki within 30 days from the date of purchase and the amount otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it and use other banking instruments to maintain the strength of the dinar against the dollar.
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June 30, 2015In:
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic analyst Bassem Jamil Anton said that the stability of the dinar exchange rate is an important step to be achieved, and that this stability is better than incremental backup, pointing out that the increase in the Central Bank to inject the dollar will not affect the dollar reserves of the Bank , but the interest of the existence of the reserve is used to achieve a balance.
He added Anton's (IMN), that "the central bank re-balance the market and good monetary policy to keep the value of the Iraqi dinar, while net buyers to put up large quantities in the market to fill the demand and restores the dinar to rise."
He predicted that "the continuing rise in oil prices offset the shortfall in dollar reserves in the Central Bank".
And committed Article 50 of the general budget for the financial year 2015 Law, the Central Bank establishes its sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dollars a day with exercise justice in the sales process, to co-bank demand at the auction to provide the introduction of cargo documents Data tax and settling accounts and savings Alkmarki within 30 days from the date of purchase and the amount otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it and use other banking instruments to maintain the strength of the dinar against the dollar.
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