Abandon the CBI currency for sale; Do you resolve the problem of the high dollar?

At the time saw it as a number of specialists to the delivery of the auction will result in a government bank to increase the value of the dinar against the U.S. dollar level can not be controlled, others stressed that the conversion of the task of selling the hard currency from the central bank to state bank may not resolve the problem once and for all,

 

A member of the Commission secretary Hadi: The real exchange rate and the actual is the one who sells Government 1118 dinars per dollar, and the crackdown of the Central Bank to sell the currency prompted the companies to buy dollars from banks at a higher price from the decision,

 

Hadi said: that the central bank if the easy procedures for the sale of hard currency, is sure to decrease the exchange rate, indicating that the transfer of the daily auction of foreign currency to other banks rather than the central bank will reduce one of the obstacles, and then will be the Finance Committee in support of the Bank’s procedures, and that his committee with the tightening of measures to sell the currency, but not this way , conversion of the amount of thousand dollars to the outside should not include measures of the same transfer of $ 100 thousand dollars, experts say in the Iraqi economy to transform the task of selling the hard currency from the central bank to state bank may not resolve the problem once and for all

 

In this context, sees Majed Image “It is possible that there will be an auction for the sale of hard currency managed by a private entity separate from the central bank, but the bank is in charge control market supply and demand it be considered the only party that sell the dollar,

 

and said the picture: I have a perception that management of the auction by the Central Bank or state on the other hand will not lead to any change in the current reality, but are beginning to resolve the economic problems, noting that “the problem is that Iraq is a country unilaterally economy depends on oil, and even tourists spend money Iraqi, not hard currency inside Iraq,”

 

The member Finance Committee, the National Alliance MP Abdul-Hussein al-Yasiri: The delivery of the auction to a government bank would increase the value of the U.S. dollar against the dinar level can not be controlled, would hurt citizens by increasing prices in the domestic market,

 

and added Yasiri: The Central Bank is in crisis as a result increase demand for the dollar, making him take the complex procedures forced the speculators to buy it from banking offices located on the black market, and there is fear of depletion of foreign exchange as a result directed the Central Bank to sell, especially as they come from oil, the only source of income of the state, but must invest that money on other projects are a lot of money to the people, adding Yasiri: The decision to abandon the central bank to a commercial bank may have come as a result of his inability to save the value of the dinar against the hard currencies again, and plans to the Central Bank of the transfer of an auction sale of hard currency to the commercial bank government, the fact that the auction does not falls within its competence, raising the ire of a number of parliamentarians and financial experts, because the government banks are not eligible technology and can not maintain the exchange rate of the dinar against the dollar,

 

so criticized a member of the Committee of Economy parliamentary from the Kurdistan Alliance Mahma Khalil determination of the Iraqi Central Bank to abandon an auction sale of foreign currency (the dollar) and transferred to a commercial bank government, stressing that this action is inappropriate and causes the complexity of routine procedures,

 

Khalil said: This procedure holds the scene more, pointing out that the central bank policy is to maintain the value of Iraqi dinar and that over the past five years the price of Iraqi dinar exchange constant in spite of the presence of U.S. troops, and noted that the central bank worked to prove that the dollar exchange rate 1167 but after the departure of the Americans and the fear of people from the Iraqi economy pushed them, as well as traders to shift their money to the dollar instead of the dinar, as well as the events of Iran and Syria, which caused up the dollar, and see the U.S. dollar has increased significantly and an unprecedented value in front of the Iraqi dinar, which was the exchange rate of one dollar (1300) Iraqi dinars, after it had been stable for a long time on the (1170) JD, is born out of fear of economic circles constantly increase its price and its direct impact on the the Iraqi economy while Deputy Governor of Bank of the appearance of Mohammed: “It is high time that comes out auction sale of currency from the Central Bank of Iraq, and to assume that a commercial bank government, Vmzad sell the currency does not fall within the competence of the Iraqi Central Bank,”

 

and explained: “All the banks in the world does not work that way, and we we were in the central bank finance foreign trade and this is not our job, and I will work hard with other government institutions for the transfer of an auction sale of foreign currency to commercial bank government, he said, the deputy governor of the Bank: “Unfortunately the policy of intervention of the central bank in the market to maintain stability Iraqi dinar ended in foreign trade financing to the private sector, because of the oneness of the Iraqi economy (oil), and the market required graduation dollars under various pretexts legal and illegal, and there are worn out to get the hard currency, including not serve the Iraqi economy. “

 

He pointed out that “the Central Bank of Iraq is his mission to intervene to absorb liquidity, and will deal with the exchange will be an auction sale of currency in the total without going into details,” critic at the same time “the accusations made against the bank on a mechanism to sell the currency.”