Swift action to control the exchange rate of the dollar against the dinar

04/11/2012 0:00

Parliament adds Central Bank Governor .. And Shabibi attribute it to the four causes of 
Baghdad – morning 
at a time when the dollar exchange rate rose in front of the dinar, strengthened yesterday the measures taken by the government and the Iraqi Central Bank to control exchange rates. 
With House of Representatives decided climb Central Bank Governor Sinan Shabibi, attributed the latter reasons, the rise to four reasons, the most prominent regional events. saw yesterday, a rise in the exchange rate, reaching …a commercial rate of exchange of the dollar against the dinar 1320. the Speaker confirmed Osama Najafi during a meeting with the Governor of Central Bank “to support the House of Representatives absolute work of the Central Bank in accordance with the Constitution and the law , stressing the need to continue to the Central Bank with the parliamentary committees relevant to discuss and clarify the problems that plagued Iraq in the areas of monetary policy and banking. “For his part, attributed Shabibi reasons for the high exchange rate of the dollar against Iraqi dinar to the” weakness of domestic production with a lack of Iraq’s exports (excluding oil), and the weakness of the government’s measures to attract capital to Iraq, as well as the political situation tense internally and regionally, including the economic blockade suffered by some neighboring countries. “in turn, said the deputy governor of the Central Bank of the appearance of Mohammed (morning): The bank is still going contract Mzhadath daily aimed at creating a balance of price between the dollar and the dinar, is that Saleh confirmed that the central touch recently mismatch between the needs of the market from the dollar and what is being purchased in daily auctions of the coin, which invited him to look carefully about the reasons for this popularity is not reasonable to buy the dollar at a time does not need the size of the exchanges, only a quarter of what is being pumped from the dollar. 
comes interview for after the news talked about the determination of the bank to stop auctions currency, something which was denied by the deputy governor of the bank, explaining that the action taken in seeking to identify the entities that can be involved in These auctions, which can be used as the amounts sold the dollar in transactions daily business of the private sector effectively. and sees a number of economists that speculative currency are behind the rise in the dollar exchange rate, confirming that the central has all possibilities to keep the policy in this direction, something that the whole by a number of experienced and found, confirming gravity of the Iraqi economy as much as it came to an abundance of foreign currency They pointed out that all market participants have complete confidence in monetary policy in the country. also called on the Economic Commission representative, the central bank to intervene to keep the Iraqi dinar exchange rate against the foreign currencies, as he said, the Commission’s decision Mahma Khalil: He made ​​contact with the Central Bank Governor Sinan Shabibi and asked him to take urgent action in order to keep the exchange rate of the Iraqi dinar against foreign currency.