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• Central» Iraq: Do not fear the dinar
Tuesday, August 2, 2011
Baghdad - Hisham Abdul Wahab
He adviser to the CBI for the appearance of Mohammed, the «central bank sales of the currency stable and fears on the value of Iraqi dinar from falling». He said in a statement to «life»: «This supports the transparency of cash in the policy of the central Iraqi official interest rate in Iraq is akin to a guide to interest rates than a direct monetary mechanism, due to the limited size of the banking sector and underdeveloped capital markets».
He referred to «the absence of obstacles to the development of sales and raise the level of the average sale». On the subject of the development of coins for financial trading, explained that «Iraq is heading to the development of coins as part of his plan to restructure the currency, which require the approval of the government and the House of Representatives, because it is a strategic plan will help support the value of the Iraqi dinar in the financial trading».
Identifies the «central» Iraqi exchange rate in the auctions conducted by the Journal of the coin, and the average sales of $ 140 million, an average exchange rate of 1170 dinars to the dollar.
He pointed out that the benefit of «project coins in 2004 was not successful, because it has not been as comprehensive reforms to support the financial value of the Iraqi dinar in the global market». He pointed out that «the coins will be the important medium of exchange value which is used for simple banking transactions in the trading of Interior».
The Iraqi Central Bank announced on 22 June last, he decided to restructure the local currency in order to develop the payment system in the country. He was also the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including the allocation of banks and raising three zeros from the local currency and the payment of debts and the compensation is the responsibility of Iraq.
The main tasks of the Iraqi Central Bank to maintain price stability, monetary policy, including exchange rates, management of foreign currency reserves, issue currency and manage, as well as to regulate the banking sector.
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Tuesday, August 2, 2011
Baghdad - Hisham Abdul Wahab
He adviser to the CBI for the appearance of Mohammed, the «central bank sales of the currency stable and fears on the value of Iraqi dinar from falling». He said in a statement to «life»: «This supports the transparency of cash in the policy of the central Iraqi official interest rate in Iraq is akin to a guide to interest rates than a direct monetary mechanism, due to the limited size of the banking sector and underdeveloped capital markets».
He referred to «the absence of obstacles to the development of sales and raise the level of the average sale». On the subject of the development of coins for financial trading, explained that «Iraq is heading to the development of coins as part of his plan to restructure the currency, which require the approval of the government and the House of Representatives, because it is a strategic plan will help support the value of the Iraqi dinar in the financial trading».
Identifies the «central» Iraqi exchange rate in the auctions conducted by the Journal of the coin, and the average sales of $ 140 million, an average exchange rate of 1170 dinars to the dollar.
He pointed out that the benefit of «project coins in 2004 was not successful, because it has not been as comprehensive reforms to support the financial value of the Iraqi dinar in the global market». He pointed out that «the coins will be the important medium of exchange value which is used for simple banking transactions in the trading of Interior».
The Iraqi Central Bank announced on 22 June last, he decided to restructure the local currency in order to develop the payment system in the country. He was also the International Monetary Fund in August last support of the Iraqi economy in the event of having a number of economic measures, including the allocation of banks and raising three zeros from the local currency and the payment of debts and the compensation is the responsibility of Iraq.
The main tasks of the Iraqi Central Bank to maintain price stability, monetary policy, including exchange rates, management of foreign currency reserves, issue currency and manage, as well as to regulate the banking sector.
[You must be registered and logged in to see this link.]
