Reduction of selling the dollar in cash contributes to the stability of the dinar

Reduction of selling the dollar in cash contributes to the stability of the dinar








 13/07/2013 12:00 AM


Baghdad - Mostafa Hashemi
 Chancellor revealed in the Iraqi Institute for Economic Reform d. Ahmed Husseini, the presence of a number of solutions and proposals to give a greater proportion of the stability of the Iraqi dinar.
Husseini said in a statement (morning): that there are short-term solutions and long-term to reduce the volatility of the exchange rate of the dinar against the dollar.
He said the quick solutions include reducing pumping dollars through cash sales at the central bank auction, along with the adoption of increased foreign remittances, in addition to increasing the price of cash sales at the central bank auction for the equivalent selling price in the auction of foreign remittances, noting that the sale and purchase of foreign currency to companies conversion and mediation fiscal done by banks licensed in Iraq to reduce transactions not meeting the conditions and procedures adopted. said Husseini need to compel traders and dealers in the areas of trade exchange between Iraq and neighboring countries to deal transfer financial and letters of guarantee, rather than buying cash. and on radical solutions long-term, said Husseini it is reviewing the financial policy of the state and reduce inflation in spending, operational, and the need to speed up plans for banking reform in order to facilitate the procedures for exchange the cash, in addition to improving the tax code and work to expand horizontally while reducing tax evasion. pointed to the necessity of activating the law of customs tariff because of its role important in providing incentives for producers with feature economic, leading to a reduction in the volume of imports, as well as improved revenue workforce, stressing the importance of improving the business environment, the economic order to raise the efficiency of production for companies and institutions of local productive that will reduce imports and increase the intake of foreign exchange through export as well as attract foreign investment. Husseini stressed the need to use modern electronic mechanisms in the distribution of salaries and the use of bank instruments and to encourage savings, can also issue a new currency or deletion of zeros from the current currency to have a positive psychological effects on the local currency dealers.


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Reduction of selling the dollar in cash contributes to the stability of the dinar wrote:

No SHIITTE Sherlock...

what does that mean?

Economist: the decision to reduce the amount of dollar selling should be studied well before taken


13-07-2013 01:41 PM
   

Baghdad (news) .. Called economic expert Majid picture, to study a proposal by the Institute of economic reform and the judge to reduce the U.S. dollar for the stability of the Iraqi dinar well before its adoption.

He said the picture (of the Agency news): The process of reducing the dollar stands in front of a lot of economic and financial factors, in addition to the purchasing power of the dinar against other currencies, indicating this should be taught proposed an integrated manner before its adoption.

He added: reducing the decision to sell the dollar for the stability of the dinar to not dependent on the willingness of many politicians and their proposals, but rather depends on a sound and thoughtful decision taking in view of all the circumstances and requirements of security and political and economic surroundings.

It is noted that there are solutions short-term and long-term to reduce the fluctuation of exchange rate of the dinar against the dollar and the most important of these solutions reduce pumping dollars through cash sales at the central bank auction, along with the adoption of increased foreign remittances. / End / 5. H. P /

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Expectations of reaching the hearts of Iraq, more than 35 million people



07/13/2013
 


Chancellor revealed in the Iraqi Institute for Economic Reform d. Ahmed Husseini, the presence of a number of solutions and proposals to give a greater proportion of the stability of the Iraqi dinar.

And al-Husseini explained that the there are solutions a short-term and Other a long-term to reduce from the the fluctuation of the price of the dinar's exchange Front Of the dollar.

And between the that the swift solutions to include the reduce the pumping the dollar from during the cash sales of at an auction the Central Bank of, besides the the adoption of increase the of foreign remittances, in addition to increase the price of cash sales of at an auction the central bank to parallels the selling price in the Auction of foreign remittances, indicating that the sale and buy the currency foreign for the companies conversion and mediation fiscal years are for through banks approved in the Iraq to reduce of total trading, non-compliant of the conditions and procedures the approved.

He stressed al-Husseini necessity of bind merchants and dealers in the regions of trade exchange between the Iraq and neighboring countries to dealing transfer the financial and letters of guarantee instead with the purchase monetary. and on the solutions the root a long-term said al-Husseini she represented reviewing financial policy of the the State of and reduce the of inflation in the spending operational, and the necessity of speed up the the plans of banking reform in order to facilitating the procedures of monetary exchange the external, in addition to improve the the Law of taxes and work on the expand it horizontally with the reduce the tax evasion.

He pointed out necessity of activating the law of customs tariff of what him from the the role of the is important in the provision of incentives for producers from the people with feature economic including leads to the reduce the size of imports, as well as improve the revenue workforce, stressing the importance of improve the the business environment economic from the order to raise the the efficiency of productivity for companies and institutions productivity local that will underestimated from the imports and increase the intake of of foreign currencies through export and as well as the to attract foreign investment. and stressed Al-Husseini on the need to the use of the mechanisms of modern electronic in the distribution of Salaries and the use of banking and encouragement instruments on savings, Also can to issuing a new currency or deletion of of zeros from the the currency the current that the be a positive to him the effects of, psychological on the dealers in local currency.


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baileybull wrote:what does that mean?

Basically, you do not promote another currency over yours.