35 trillion dinars, the volume of cash in circulation
35 trillion dinars, the volume of cash in circulation
2/2/2014 0:00
Selling gold to the citizens aims to be towed
Baghdad – Mostafa Hashemi
longer sell gold bullion to the public of important issues in maintaining the stability of prices and the withdrawal of liquidity from foreign currency amounting to – according to an official – 35 trillion Iraqi dinars and converted into the origins of the precious metal as a measure to curb inflation in Iraq .
was the central bank has decided recently coined a variety of alloys pure gold weights ranging between (5 g and 1 kg)., declaring direct actions contracted to import and then sell them through the banking system. sees director of banks in the Ministry of Finance, Dr. Hilal Taan that The Central Bank this measure comes to control the levels of inflation and the reduction of high prices.
added Taan told (morning) that the sale of gold from the central bank to citizens represents a process of withdrawing liquidity from trading where the liquidity in the market about 35 trillion dinars, and this large number Central Bank seeks to downgrade following the procedures of monetary policy.
confirmed its part, economic researcher Suhad Athari, said the central bank announced the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity as well as he promotes price stability. She told the (morning) that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.
drew virgins that this would also reduce the rate of inflation of the currency where it can be reduced from by absorbing liquidity from the dollar in both the banks and the citizen, and turn it into a precious metal, because it is more stable in the prices of the dollar, which is subject to the repercussions of the economic situation between the United States and China and other countries, as well as the difficulty of transporting gold and turn it out of the country Mijolh keeps prices rates safe.
virgins and concluded her speech by saying that the central bank through its monetary policy aims to achieve high growth rates and a stable exchange rate and move the process through the distribution of credit loans to the most vital sectors thus leading to economic development.
alsabaah.iq
