Monopoly powers in the currency auction win 120 million dinars on each million dollars
Abadi consultant for “Today’s News”: monopoly powers in the currency auction win 120 million dinars on each million dollars
Publishing Date: Sat, 11 Jul two thousand and fifteen 1:38:54 p.m.
BAGHDAD – Today’s News
Economic Adviser to the Prime Minister, the appearance of Mohammed Saleh, confirmed that the Iraqi Central Bank auction has turned from a means of monetary policy to adjust the levels of liquidity, a financier of trade the private sector, while noting that the central reserves are historical and should not be missed because of the mere demand for some commodities is important, revealed that monopoly power to win nearly 120 million dinars on each million dollars.
He said economic adviser, in an interview with “Today’s News” that “the central bank set the exchange rates looking in two directions and it is not only meet demand, but access to the correct price of the dollar and the price equilibrium.”
He noted that “the central reserves and excellent historical and should not be wasted just because of demand for some commodities is important and non-strategic.”
He continued by saying that he “must be balanced and parallel to the central exchange rate because the imbalance between the two prices will lead to the theft of the proceeds of operations,” pointing out that “those who have outlets on the auction is that capture the dollar amounts displayed and controlled prices.”
Saleh pointed out that “the bank sold dollars in 1166 at a price of 24 dinars plus commission, and must procuring entities to get a commission difference does not exceed 10 dinars and not, as is happening now.”
He called for the need for “the central bank tries to access to the real student of the dollar until the end the issue of intermediaries.”
Saleh, said that “revealed every million dollars to win by nearly monopolistic powers nearly 120 million dinars.”
He noted that “oil is the main source and the only one in Iraq and the foreign currency market only way out of foreign currency and does not come any flow of dollars of non-oil,” pointing out that “the markets when they are separate get rid of the dollar inflows problems.”
He said the “government approach is to get in 2035 to be the Iraqi market, independent and productive market, and is the operator be the foundation of the economy.”
And currency auction problems, noted the benefit that “the auction of the Central Bank of Iraq has turned from a means of monetary policy to adjust the levels of liquidity and maintain a stable exchange rate of the dinar rate, the financier of trade of the private sector, a killer who struck melancholy monetary policy error and on the Central Bank in accordance with the understanding Almkhtu for many stakeholders like Lamcy may take an ordinary commercial banks financing private sector trade without understanding the monetary policy tools and the open market operations and its role in the stabilization of the exchange rate of the Iraqi dinar. ”
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