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Mokhtassan: the phenomenon of the dollar exchange rate fluctuations and can be cured by natural
06/01/2013 12:00 AM
They impact on the economy
BAGHDAD - Hussein ثغب Tamimi
said Mokhtassan affairs cash that the phenomenon of fluctuation of the dollar exchange rate in our local markets can be addressed by following the central bank a number of measures that would achieve smooth flow of cash to the tracks of hard currency the road right at the forefront of increasing the supply of the dollar in local markets. Competent affairs cash Mohsen al-Zaidi said in an interview (morning): To maintain or control over foreign exchange rates are among the most important duties of central banks in the world, regardless of the economic situation in this or that country because of its significant impact on the movement of money and channeled in the form right in various economic activities, financing and investment, making it any firming exchange rate of the factors influencing the growth of the economies of the countries and a magnet for overseas capital for the purpose of investing at home in addition to other influences.
, and pointed out that the impact of the important successor fluctuation of exchange rates is a direct impact on per capita income in society and its impact on the movement of goods and services, banking, indicating that the effect of that up to the overall economy and the economy of the family in particular where so they can be dispensed with a lot of widgets that often ماتكون important for the family.
, adding that among processors central banks to keep the prices fixed or semi-fixed the exchange rate is to increase the supply of foreign currency in order to confront the demand for real-time on the market until the expiry is noticeable on demand in the Iraqi market, continuing demand, which requires an ongoing and thus Valmaaljh this way need to pause, even though it followed in many currency markets in other countries, which we believe that control policy on the prices of goods and services is more worthy of treatment does not mean it that determines the price of a particular commodity or service, but rather to provide foreign currency at fixed prices for the purposes of coverage of imports of goods and services are real and within the controls Court to prevent exploitation, and this in turn will lead to reducing the impact of exchange rate fluctuations at the level of real per capita income, or at the level of institutions, banks and growth, so they can say: that the fluctuation of exchange rates can be contained.
financial expert Ali Vkika said: The phenomenon of low value of the transaction Iraqi current is a natural phenomenon and not satisfactory and feasible to restore the balance, but the terms of cancellation of work restrictions current imposed by the central bank, and it's the other important thing is to improve the climate and investment environment by making it an attractive environment. said that the reasons for the decline new dinar exchange rate many in the forefront of that Iraq has been and remains cross-border trade carried out by his sons with the sons of neighboring countries such as Iran, Syria and Turkey , and was and still is the local currencies of dinars and Toman and lira covers an important part of that trade along with the dollar.
between that what is happening now is the exchange of commercial active across the border in the district of Kalar and Haj Omran in the Kurdish north and in Mehran Shalamjah south is an example of this trade. This resulted in the accumulation of large Iraqi cash reserves among bankers and traders Iranians, Jordanians, Syrians and Turks and others. We have strengthened the acceptance of those of the Iraqi dinar confidence in him throughout the years, five years, which did not happen to him such confidence before it over the decades.
, and pointed out that the other factor is what the central bank to be the mediator between the Tax Authority and the people the restrictions imposed by the The player's role more severe by making Enforcement Accreditation documentary and importers transfers Iraqis entailed obtaining prior approval from the General Authority for taxes. In addition to the requirement of existing commercial and certificate of origin parent and related freight and Altsrihh customs issued by the ports Iraqi border, including supported the introduction of the goods imported to Iraq, as well as the condition of consumer time your ratifications official certificates of origin original in our embassy abroad, and consumed the time and costs and delay in the supply response to the request, which contrasts with the rules of market economy and reduce government interference in the political to the private sector, which led a lot of importers and those with the need to transform the outside to buy foreign currency from the local market free at 1300 dinars to the dollar, or sometimes more.
despite the fact that the sale price of the Central Bank official is 1189 and that the difference between the two rates is 1300 - 1189 = 111 dinars per dollar.
in case the need to convert million difference is 111 dinars 1.0 million = $ 111 million dinars and modify 93.6 thousand dollars. There are importers and asylum foreign exchange accept afford to pay the difference in the amount to invest the time and effort, what is required to return the central bank to work to the principles of economic liberalization and deregulation sterile and that the conditions and restrictions imposed by the Central Bank of Iraq is the source of the high value of the dollar against the dinar.
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06/01/2013 12:00 AM
They impact on the economy
BAGHDAD - Hussein ثغب Tamimi
said Mokhtassan affairs cash that the phenomenon of fluctuation of the dollar exchange rate in our local markets can be addressed by following the central bank a number of measures that would achieve smooth flow of cash to the tracks of hard currency the road right at the forefront of increasing the supply of the dollar in local markets. Competent affairs cash Mohsen al-Zaidi said in an interview (morning): To maintain or control over foreign exchange rates are among the most important duties of central banks in the world, regardless of the economic situation in this or that country because of its significant impact on the movement of money and channeled in the form right in various economic activities, financing and investment, making it any firming exchange rate of the factors influencing the growth of the economies of the countries and a magnet for overseas capital for the purpose of investing at home in addition to other influences.
, and pointed out that the impact of the important successor fluctuation of exchange rates is a direct impact on per capita income in society and its impact on the movement of goods and services, banking, indicating that the effect of that up to the overall economy and the economy of the family in particular where so they can be dispensed with a lot of widgets that often ماتكون important for the family.
, adding that among processors central banks to keep the prices fixed or semi-fixed the exchange rate is to increase the supply of foreign currency in order to confront the demand for real-time on the market until the expiry is noticeable on demand in the Iraqi market, continuing demand, which requires an ongoing and thus Valmaaljh this way need to pause, even though it followed in many currency markets in other countries, which we believe that control policy on the prices of goods and services is more worthy of treatment does not mean it that determines the price of a particular commodity or service, but rather to provide foreign currency at fixed prices for the purposes of coverage of imports of goods and services are real and within the controls Court to prevent exploitation, and this in turn will lead to reducing the impact of exchange rate fluctuations at the level of real per capita income, or at the level of institutions, banks and growth, so they can say: that the fluctuation of exchange rates can be contained.
financial expert Ali Vkika said: The phenomenon of low value of the transaction Iraqi current is a natural phenomenon and not satisfactory and feasible to restore the balance, but the terms of cancellation of work restrictions current imposed by the central bank, and it's the other important thing is to improve the climate and investment environment by making it an attractive environment. said that the reasons for the decline new dinar exchange rate many in the forefront of that Iraq has been and remains cross-border trade carried out by his sons with the sons of neighboring countries such as Iran, Syria and Turkey , and was and still is the local currencies of dinars and Toman and lira covers an important part of that trade along with the dollar.
between that what is happening now is the exchange of commercial active across the border in the district of Kalar and Haj Omran in the Kurdish north and in Mehran Shalamjah south is an example of this trade. This resulted in the accumulation of large Iraqi cash reserves among bankers and traders Iranians, Jordanians, Syrians and Turks and others. We have strengthened the acceptance of those of the Iraqi dinar confidence in him throughout the years, five years, which did not happen to him such confidence before it over the decades.
, and pointed out that the other factor is what the central bank to be the mediator between the Tax Authority and the people the restrictions imposed by the The player's role more severe by making Enforcement Accreditation documentary and importers transfers Iraqis entailed obtaining prior approval from the General Authority for taxes. In addition to the requirement of existing commercial and certificate of origin parent and related freight and Altsrihh customs issued by the ports Iraqi border, including supported the introduction of the goods imported to Iraq, as well as the condition of consumer time your ratifications official certificates of origin original in our embassy abroad, and consumed the time and costs and delay in the supply response to the request, which contrasts with the rules of market economy and reduce government interference in the political to the private sector, which led a lot of importers and those with the need to transform the outside to buy foreign currency from the local market free at 1300 dinars to the dollar, or sometimes more.
despite the fact that the sale price of the Central Bank official is 1189 and that the difference between the two rates is 1300 - 1189 = 111 dinars per dollar.
in case the need to convert million difference is 111 dinars 1.0 million = $ 111 million dinars and modify 93.6 thousand dollars. There are importers and asylum foreign exchange accept afford to pay the difference in the amount to invest the time and effort, what is required to return the central bank to work to the principles of economic liberalization and deregulation sterile and that the conditions and restrictions imposed by the Central Bank of Iraq is the source of the high value of the dollar against the dinar.
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