Return Iraq Dinar (IQD) to its strength

Keywords: cash sales dollar continuously .. no ceilings on the withdrawal of funds

BAGHDAD / Amer Mohi
03/03/2015
Denied the central bank, on Tuesday, he stopped selling the dollar, pointing out that the bank gave the green light to implement the project to delete the zeros from the currency, while stressing taken new measures to trading in dollars, expect a decision parliamentary finance committee return dinar to his strength, returned central decisions to " good "because it is a challenge of smuggling currency out of the country.

The decision of the parliamentary finance committee Ahmed Hama Rashid in the "long", that "the central bank's plan to abolish the daily auction of the coin and determine the amount of $ 75 million a day, is a good step to prevent foreign currency smuggling out of the country," noting that "the decision returned good easily neutralized through this period. "
Rashid added by saying that "hard currency prices stabilized after a few days of taking the central bank's decision to cancel the daily auction, and that this contributed to the strengthening of the Iraqi dinar," expected "The coming days will witness the return of the dinar to strength again."
He stressed that "a meeting between the parliamentary Finance Committee and the Central Bank and has been discussed many issues, including the issue of the daily auction of the coin and the strengthening of the Iraqi currency," pointing to "the formation of a small committee temporarily inside the Finance Committee to discuss the latest developments with the Central Bank by hosting maintain the relationship."
 

The governor of the bank on the Keywords during a press conference, held in the bank building area Jadiriya in Baghdad, said that "the central bank went to the new mechanisms on the sale of currency window after studying extensively formerly followed which affected one way or another on the market because they carry a lot of problems, including money laundering, "pointing out that" the mechanism used currently maintain a market economy, as well as support for the dollar exchange rate against the dinar by linking foreign remittances through the financial deposit paid by the dealer before buying the goods are placed in banks abroad and thus not join inconsistencies in dollars, and the entry of the goods entirely according to invoices submitted. "
He added that the relationship "cash sales of dollars by selling the currency continuous window and there is no interruption, but it will be in a new way and there are no limits to the amounts for those wishing to obtain the dollar."
On the other hand pointed Keywords that "heading the bank is real and effective support of private banks in Iraq by persuading the government to develop a financial deposit in those banks as well as dealing with the outgoing ones in the state departments of all instruments", noting that "the bank is considering now deposit law is now under preparation and if completed it during the next few days will pay to the House of Representatives for approval. "
Keywords that "revealed an ongoing process to delete the zeros of the currency has not canceled but is now in preparation and study the subject and to say the least over the next three years, largely will be worked out because this is an important administrative and financial operations can not rush it."
For his part, said an expert on economic affairs Majid picture in an interview for the "long", that "the abolition of currency auction came to the goal of the organization of the currency sale in the market, especially after the great smuggling currency out of the country after the opening of the auction on a daily basis," noting that "the basic problem is the development of paragraph in the federal budget to determine the dollar selling in the daily auction of the Central Bank, "stressing that" the CBI plans are good for organizing the sale of hard currency for the market. "
He added that the picture of "the existence of hard currency by more than 150% of the local currency exporting is good and indicates that Iraq will not suffer from a lack of hard currency," noting that "the presence of large amounts of dollar strengthens the dinar against the dollar and regulates the sale of currency process." The Central Bank of Iraq, denied, on Tuesday, closing window sell the currency, said "take new mechanisms to sell the dollar."
Parliamentary Finance Committee held (March 2, 2015) meeting with the Governor of the Central Bank and the Agency on the Keywords and director of TBI Hamdiya dry to discuss the financial situation and the issue of transfer of funds from the commercial bank to Kurdistan without collateral.
Confirmed the parliamentary finance committee member Majda al-Tamimi (February 2, 2015) that the rise in the dollar exchange rate "will not last long", and demanded that the central bank using monetary tools to control the market.
She added that "the Commission predicted rise in the dollar exchange rate against the dinar, when the roof identified 75 million dollars for the auction of the Central Bank, the General Budget Law, while not confirmed the continuation of the long rally, called for the central bank using monetary tools to control the market.
The MP Magda al-Tamimi said that "the Parliamentary Finance Committee predicted a rise in the dollar's exchange rate against the dinar, when identified ceiling 75 million dollars for the auction of the Central Bank, the General Budget Law," noting that "such a paragraph came because the Iraqi central bank sales were between 200 to 250 million dollars a day, which led to the depletion of the country's hard currency reserves and low of 77 to 67 billion dollars or less.

Source: almadapaper.net  / Translated from: http://almadapaper.net/ar/news/482981/%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82--%D8%A7%D9%84%D8%A8%D9%8A%D8%B9-%D8%A7%D9%84%D9%86%D9%82%D8%AF%D9%8A-%D9%84%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%85%D8%B3%D8%AA%D9%85%D8%B1-%D9%88%D9%84%D8%A7-%D8%B3