Procedures to maintain the value of the dinar

Procedures to maintain the value of the dinar


05/13/2013 12:00 AM

BAGHDAD - Alaa al-Tai

CBI initiated measures fast to reduce the volatility of the currency, and the province of the dinar value against the dollar. These measures coincides with the parliamentary Finance Committee reassure citizens about Iraq's possession of a large cash reserve of hard currency Ihsnh from any repercussions of a sudden.

The chairman of the Finance Committee parliamentary Haider al-Abadi told the "Center Brief for the Iraqi Media Network," on Sunday, the status of "action to get the citizens on the currency of the private banks and the government, including that the conversion up to travel or treatment, as it can be obtained on the currency required transfer official . "

He also noted the President of the parliamentary Finance Committee to receive reassuring messages from officials at the central bank to control the issue of volatility in the exchange rate, as well as their emphasis on the lack of seriousness on the dinar and the presence of a mass of large cash.

He pointed out that bank officials "have expressed great confidence in the power of the central bank, what attributes of the cash reserves of hard currency is estimated at $ 74 billion," pointing out that "the problem is limited to the difference between supply and demand in the Iraqi market for the dollar."

He noted the action proper Adopted by the Central Bank of the adoption of increased remittances instead of cash or bank guarantees and encouragement to grant transfers with no restrictions or limits to the banks, because traders often need to remittances and banking guarantees and do not need to cash, "stressing at the same time that" this measure documenting currency trading is the safest. "For his part, briefed Governor of the Central Bank of the committee members at a meeting held yesterday in Parliament in the presence of First Deputy Speaker of Parliament Qusay al-Suhail, on the actions carried out by the bank and the instructions issued during the last term, and that everything is under control.

The central bank governor said he is not worried of this volatility at the present time, believing it "very temporarily" as a result of some action taken by the Bank, including owns the supervisory role of private banks and government.


[You must be registered and logged in to see this link.]

"the problem is limited to the difference between supply and demand in the Iraqi market for the dollar."

31 trillion divided by 74 billion, priceless ain't it??

understand theres only 1.14 trillion USD in circulation