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He confirmed that the process of deleting the zeros back the dinar to normal parliamentary support for the actions of the Central Bank
2012-02-21بغداد ـ الصباح الجديد 02/21/2012 New Morning Baghdad
Announced that the Economic Commission Parliamentary its full support to action the Iraqi Central Bank for supporting the exchange rate of the dinar and the dollar selling in the auction, as well as planned on the removal of three zeros from the local currency, as he emphasized the central bank that monetary policy is controlled them completely and the presence of cover enough of the local currency, and expected increased dealing in Iraqi dinars, which necessitates the need to delete the zeros of it.
Committee Chairman Ahmed al-Alwani, in a press conference, said that «the Commission supports the controls and mechanisms adopted by the Central Bank to deal with the auction the dollar and to maintain the exchange rate of the dinar and Iraq's wealth in hard currency, as well as planned on the removal of three zeros from the local currency».
He said al-Alwani, that «the Committee highly appreciates the responsible attitude and outstanding efforts of the central bank governor and his staff on maintenance of public money and the wealth of Iraq», pointing out that «the Commission coordinate with the Central Bank out of its commitment to public money and the economy of Iraq, and because the correlation Bank of parliament according to the Constitution» .
The President of the Economic Commission parliamentary, that «the Committee was briefed on the steps diligent, scientific, transparent and serial, carried out by the central bank to control the exchange rate of the dinar and the preservation of hard currency», pointing out that «there are conditions and mechanisms in this regard to limit to deal with those involved only in dollars».
And witnessed the exchange rate of U.S. dollar in domestic markets has recently increased significantly against the Iraqi dinar, with varied price one dollar between 1221 to 1225 thousand Iraqi dinars, while the price was in 2011 the last of 1180 dinars to the dollar, especially after the tightening of international sanctions on Both systems Tehran and Damascus.
This has forced the bank to central intervention through a package of measures, particularly in the auction, organized to sell the dollar, has attributed the Deputy Governor of the Central Bank of the appearance of Mohammed Saleh told Alsumaria News, on the ninth of January last, high exchange rate of U.S. dollar in the local markets of Iraq, and rising sales trade finance to neighboring countries, noting that it will reflect negatively on Iraq's reserves of hard currency.
For his part, Iraqi Central Bank Governor, Sinan Shabibi, during a press conference held at Parliament House, that «the monetary policy and exchange rate of the dinar is dominated them completely», adding that «there is a reserve or cover enough about great local currency to ensure that the march of the dinar to the importance of this in the dealings of investors and consumers, including the government ».
The Shabibi, that «the banking operations carried out by the Bank are subject to in-depth studies, serious, and take into account the uses of Currency and the need for a real-time and in the future», and expected that «the increasingly dealing in Iraqi dinars, which necessitates the need to delete three zeros from it».
The central bank governor, that «the process of deleting the zeros of the dinar, the current is very important to return to normal», as he put it.
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2012-02-21بغداد ـ الصباح الجديد 02/21/2012 New Morning Baghdad
Announced that the Economic Commission Parliamentary its full support to action the Iraqi Central Bank for supporting the exchange rate of the dinar and the dollar selling in the auction, as well as planned on the removal of three zeros from the local currency, as he emphasized the central bank that monetary policy is controlled them completely and the presence of cover enough of the local currency, and expected increased dealing in Iraqi dinars, which necessitates the need to delete the zeros of it.
Committee Chairman Ahmed al-Alwani, in a press conference, said that «the Commission supports the controls and mechanisms adopted by the Central Bank to deal with the auction the dollar and to maintain the exchange rate of the dinar and Iraq's wealth in hard currency, as well as planned on the removal of three zeros from the local currency».
He said al-Alwani, that «the Committee highly appreciates the responsible attitude and outstanding efforts of the central bank governor and his staff on maintenance of public money and the wealth of Iraq», pointing out that «the Commission coordinate with the Central Bank out of its commitment to public money and the economy of Iraq, and because the correlation Bank of parliament according to the Constitution» .
The President of the Economic Commission parliamentary, that «the Committee was briefed on the steps diligent, scientific, transparent and serial, carried out by the central bank to control the exchange rate of the dinar and the preservation of hard currency», pointing out that «there are conditions and mechanisms in this regard to limit to deal with those involved only in dollars».
And witnessed the exchange rate of U.S. dollar in domestic markets has recently increased significantly against the Iraqi dinar, with varied price one dollar between 1221 to 1225 thousand Iraqi dinars, while the price was in 2011 the last of 1180 dinars to the dollar, especially after the tightening of international sanctions on Both systems Tehran and Damascus.
This has forced the bank to central intervention through a package of measures, particularly in the auction, organized to sell the dollar, has attributed the Deputy Governor of the Central Bank of the appearance of Mohammed Saleh told Alsumaria News, on the ninth of January last, high exchange rate of U.S. dollar in the local markets of Iraq, and rising sales trade finance to neighboring countries, noting that it will reflect negatively on Iraq's reserves of hard currency.
For his part, Iraqi Central Bank Governor, Sinan Shabibi, during a press conference held at Parliament House, that «the monetary policy and exchange rate of the dinar is dominated them completely», adding that «there is a reserve or cover enough about great local currency to ensure that the march of the dinar to the importance of this in the dealings of investors and consumers, including the government ».
The Shabibi, that «the banking operations carried out by the Bank are subject to in-depth studies, serious, and take into account the uses of Currency and the need for a real-time and in the future», and expected that «the increasingly dealing in Iraqi dinars, which necessitates the need to delete three zeros from it».
The central bank governor, that «the process of deleting the zeros of the dinar, the current is very important to return to normal», as he put it.
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