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The appearance of Mohammed Saleh: high dollar returns to restrict the central bank to sell limited q

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Post by wciappetta on Mon 27 Apr 2015, 9:15 am

Here's Saleh suggesting a formal change in the exchange rate of the dinar to the dollar will solve the misrepresented  monetary relationship ... when he says reduction he means increasing the value ie a reduction in how many dinars or part thereof equals a dollar .... A sign of intent? Absoluetly...





The appearance of Mohammed Saleh: high dollar returns to restrict the central bank to sell limited quantities



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Agencies -


Economic Adviser to the Prime Minister attributed the appearance of Mohammed Saleh rise in dollar prices in the domestic market, the central bank to restrict the sale in limited quantities, according to the text of the 2015 budget law.

Saleh said that "the quantities sold of hard currency and the US dollar from the central bank if they meet the demand for the dollar rose because the bank is restricted by law to sell financial budget amount of $ 75 million and can not overcome these quantities."

He explained, "There is a deficit in the balance of payments and the Iraqi We export our exports of oil to the dollar offset by the continuing high demand for import of goods and services purchased in hard currency from the drains of foreign currency."  -[referencing buying power here]

Saleh pointed out that "companies to buy dollars from the central bank at any Cheap No price reflects the economic situation as well as the official dollar exchange rate does not reflect the state of the economy and thus the gap get in the exchange rate."

He said that "the solution my personal opinion, be a formal reduction of the dinar and takes reasonable price have the ability to control the levels of liquidity larger because the current value of the dinar against the price Aldlar Aahakq to it."

He said the "dollar sale at a high price will pull dinars more and thus the control of the application meant to last the price and we mean here financed goods and services in foreign currency."

And witnessing the dollar in the domestic market, a remarkable increase saluting exceed by more than 5 to 6000 dinars for the central bank rate in its daily auction.

Article 50 of the Budget Law for 2015 that "the central bank is committed to identifying sales of hard currency [dollar] in the daily auction ceiling does not exceed $ 75 million a day with the exercise of justice in the sales process, and calls for the participant bank in the auction provide goods enter documents and statements of tax settling accounts and input Alkmarki within 30 days from the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar. 


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Post by csd9013 on Mon 27 Apr 2015, 9:58 am

I hope they take his advice. Thanks, Ward.
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Post by Proven on Mon 27 Apr 2015, 10:20 am

Good one Ward.  Here is another:


Economic adviser to attribute the rise in the dollar price of the central bank to restrict the sale of limited quantities

BAGHDAD / Source News / .. Economic Adviser to the Prime Minister stressed the appearance of Mohammed Saleh, on Monday, that the high dollar prices in the domestic market, due to the central bank restricts sale in limited quantities.

Saleh said in a press statement I followed Agency / Source News /, "The central bank sold restrict the amount of $ 75 million and can not overcome these quantities, due to the financial budget law, led to increased dollar."

He added that "there is a deficit in the balance of payments and the Iraqi We export our exports of oil to the dollar offset by the continuing high demand for import of goods and services purchased in hard currency from the drains of foreign currency."

He explained that "companies to buy dollars from the central bank at any Cheap No price reflects the economic situation as well as the official dollar exchange rate does not reflect the state of the economy and thus the gap get in the exchange rate."

He said that "the solution my personal opinion, be a formal reduction of the dinar and takes reasonable price have the ability to control the levels of liquidity larger because the current value of the dinar against the dollar, the price does not achieve it," .


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Post by lonelyintexas on Mon 27 Apr 2015, 11:14 am

Very good articles indeed, things are coming together nicely. 
Thanks
LIT
yes
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Post by Screwball on Mon 27 Apr 2015, 2:25 pm

Thanks ward for the interpretation!
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Post by sassy on Mon 27 Apr 2015, 6:22 pm

Thanks ward!  duck
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Post by weslin3 on Mon 27 Apr 2015, 6:28 pm

Three time for emphasizes sassy! flower
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Post by mochasmom on Mon 27 Apr 2015, 6:31 pm

Yes thanks Ward...let's hope it's in May!!
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Post by Screwball on Tue 28 Apr 2015, 6:43 am

[You must be registered and logged in to see this link.] wrote:Yes thanks Ward...let's hope it's in May!!
All we have is hope Mocha! Nothing is a give me!
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Post by Neno on Tue 28 Apr 2015, 3:41 pm

[You must be registered and logged in to see this link.] wrote:
All we have is hope Mocha! Nothing is a give me!
Wrong, I would give you Cheia Vida.... funny

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