Central Bank: The dollar exchange rate is fixed and our foreign currency reserves are very good
Central Bank: The dollar exchange rate is fixed and our foreign currency reserves are very good
2020-10-18
The Central Bank confirmed, on Sunday, that the exchange rate of the dollar against the Iraqi dinar is fixed and has not changed, indicating that its foreign currency reserves are “very good and enable it to overcome the current crisis” that the country is going through.
The bank said in a statement that “the statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the point of view of those who stated it and do not represent the official position of the Central Bank. This was accompanied by a number of rumors released by speculators, which temporarily affected the price.”
He added, “The exchange rate is fixed and unchanged, and its monetary policy is clear and transparent, noting that its foreign currency reserves are very good according to all international indicators and in a way that enables it to overcome the current crisis the country is going through.”
The Central Bank called on the media to “exclusively approve the sources of the Central Bank in this regard.”
burathanews.com
[…] https://iraqidinarchat.net/?p=65859 […]
Economist: The government’s white paper is behind the dollar’s rise
17:09 – 10/18/20200
Share it on Facebook Tweet on Twitter
Information / Special …
The economic expert, Ahmed Jassim, confirmed, on Sunday, that the white paper presented by the government is behind the rise in the exchange rates of the dollar, expecting the rates of increase to increase unless the Central Bank addresses the matter.
“The white paper put forward by the government indicated a decrease in the reserves of the Central Bank, which discusses the Central Bank statement issued today,” Jassim told Al-Maaloumah.
He added that “the white paper included reducing salaries and adopting austerity in monetary policy,” noting that “the matter raised concerns of merchants and capital owners and pushed them to withdraw hard currency from the market, which led to its rise.”
Jassim explained that “the solution can be bypassed with simple steps by pumping the central dollar into the market more than demand, to restore stability in its price within normal rates,” noting that “failure to implement this step will push the dollar to a further rise.”