Home
Millions of dollars in profits «monopoly power» in the Central Auction
July 12th, 2015
Saleh: Bank turned into a financier of trade of the private sector
Baghdad morning's New:
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, confirmed that the Iraqi Central Bank auction has turned from a means of monetary policy to adjust the levels of liquidity, a financier of trade the private sector, while noting that the reserves Central historical and should not be missed because of the mere demand for some commodities is important, it was revealed that the strong monopolistic win nearly 120 million dinars on each million dollars.
He said economic adviser, in a press interview, said «adjust exchange Central Bank prices looking in two directions and it is not meet demand only, but access to the correct price of the dollar and the price equilibrium ».
He pointed out that «the central reserves and excellent historical and should not be missed because of the mere demand for some commodities is important and non-strategic».
He continued by saying that «must be balanced central exchange and the parallel rate because the imbalance between the two prices will lead to the theft of the proceeds of operations », pointing out that« those who have outlets on the auction is that capture the dollar amounts displayed and controlled prices ».
Saleh also highlighted that «the bank's dollar selling price in 1166 plus commission of 24 dinars, and must procuring entities have to get commission difference does not exceed 10 dinars and not, as is happening now ».
He called for the need to «the central bank tries to access to the real student of the dollar until the end the issue of intermediaries». Saleh revealed, that «every million dollars to win its monopoly power nearly 120 million dinars almost».
He pointed out that «oil is the main source and the only foreign currency in Iraq and the market only way out of foreign currency and does not come any flow of dollars of non-oil», pointing out that «be independent when markets get rid of the dollar inflows problems.» He said «the government is that we get to go in 2035 to be the Iraqi market, independent and productive market, and is the operator be the foundation of the economy.» And currency auction problems, noted the benefit that «Auction Central Bank of Iraq has turned from a means of monetary policy to adjust the levels of liquidity and maintain a stable exchange rate of the dinar rate, the financier of trade of the private sector, a killer who struck melancholy monetary policy error and around the Central Bank in accordance with the understanding Almkhtu for many of those concerned may Lamcy like an ordinary commercial banks is funded by the private sector trade without understanding the monetary policy tools and the open market operations and its role in the stabilization of the exchange rate of the Iraqi dinar. »
[You must be registered and logged in to see this link.]
July 12th, 2015
Saleh: Bank turned into a financier of trade of the private sector
Baghdad morning's New:
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, confirmed that the Iraqi Central Bank auction has turned from a means of monetary policy to adjust the levels of liquidity, a financier of trade the private sector, while noting that the reserves Central historical and should not be missed because of the mere demand for some commodities is important, it was revealed that the strong monopolistic win nearly 120 million dinars on each million dollars.
He said economic adviser, in a press interview, said «adjust exchange Central Bank prices looking in two directions and it is not meet demand only, but access to the correct price of the dollar and the price equilibrium ».
He pointed out that «the central reserves and excellent historical and should not be missed because of the mere demand for some commodities is important and non-strategic».
He continued by saying that «must be balanced central exchange and the parallel rate because the imbalance between the two prices will lead to the theft of the proceeds of operations », pointing out that« those who have outlets on the auction is that capture the dollar amounts displayed and controlled prices ».
Saleh also highlighted that «the bank's dollar selling price in 1166 plus commission of 24 dinars, and must procuring entities have to get commission difference does not exceed 10 dinars and not, as is happening now ».
He called for the need to «the central bank tries to access to the real student of the dollar until the end the issue of intermediaries». Saleh revealed, that «every million dollars to win its monopoly power nearly 120 million dinars almost».
He pointed out that «oil is the main source and the only foreign currency in Iraq and the market only way out of foreign currency and does not come any flow of dollars of non-oil», pointing out that «be independent when markets get rid of the dollar inflows problems.» He said «the government is that we get to go in 2035 to be the Iraqi market, independent and productive market, and is the operator be the foundation of the economy.» And currency auction problems, noted the benefit that «Auction Central Bank of Iraq has turned from a means of monetary policy to adjust the levels of liquidity and maintain a stable exchange rate of the dinar rate, the financier of trade of the private sector, a killer who struck melancholy monetary policy error and around the Central Bank in accordance with the understanding Almkhtu for many of those concerned may Lamcy like an ordinary commercial banks is funded by the private sector trade without understanding the monetary policy tools and the open market operations and its role in the stabilization of the exchange rate of the Iraqi dinar. »
[You must be registered and logged in to see this link.]
