Economist: Central Bank's lack of confidence leads to the fluctuation of the exchange rate of the di

Economist: Central Bank's lack of confidence leads to the fluctuation of the exchange rate of the dinar against foreign currency



Khandan - Zia Caliph

 Majid picture warned an economist specializing in the development of monetary policy and the continued volatility of the Iraqi dinar against hard currency Ntihh the lack of confidence in the policies of the Central Bank of Iraq and the deepening political crisis in the country, as called for to restore trust between the banking sector and public sector.

He said Suri in a statement singled out by the reporter, "Khandan", said: "banker Rasheed and Rafidain government to Aimknhma control of the Iraqi dinar exchange rate against the U.S. dollar for many reasons," adding that "the fluctuation of the exchange rate of the local currency is directly related to a lack of confidence and economic shocks suffered by Iraq recently as well as the needs of the local market and private banks to foreign currency. "

 And the figurehead that "declining rates stabilize the Iraqi dinar lies in the political interference in the political central bank and currency market as well as the political crisis worsening and the control of mafias large in buying and selling the currency of the central bank auction," adding that "There is a close link in Iraq between the capital market and political crises and the security situation. "

 Suri said that "Iraq is living the suffocating political crisis in years, as well as the central bank is suffering from a lack of confidence in the currency market because of political interference and the sacking of Bank Governor Sinan al-Shabibi previous suspicions of corruption raised since the financial period."

 He called on the picture to "revive the confidence between the financial sector and public sectors, which is the only solution to the stability of the local currency market in Iraq, as well as go to the modern capital market mechanisms and more openness to the private sector."
 This has been attributed the parliamentary Finance Committee fluctuation of the exchange rate of the Iraqi dinar against the dollar to the impact on the operations of brokers buy and sell the dollar at the central bank auction.

Witness the exchange rate of the Iraqi dinar against the U.S. dollar fluctuated between one period and another by (3-6) degrees.

The Federal Council of Ministers decided on 16 of October of last year mandated Abdul Basit Turki for the management of the central bank rather than Shabibi that the Integrity Commission issued an order to arrest him, in addition to 16 other officials, including Deputy Governor appearance of Mohammed Saleh various charges


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Economist: Central Bank's lack of confidence leads to the fluctuation of the exchange rate of the dinar against foreign currency

04:59:18/07/2013

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Khandan - Zia Caliph

Majid picture warned an economist specializing in the development of monetary policy and the continued volatility of the Iraqi dinar against hard currency Ntihh the lack of confidence in the policies of the Central Bank of Iraq and the deepening political crisis in the country, as called for to restore trust between the banking sector and public sector.

He said Suri in a statement singled out by the reporter, "Khandan", said: "banker Rasheed and Rafidain government to Aimknhma control of the Iraqi dinar exchange rate against the U.S. dollar for many reasons," adding that "the fluctuation of the exchange rate of the local currency is directly related to a lack of confidence and economic shocks suffered by Iraq recently as well as the needs of the local market and private banks to foreign currency. "

And the figurehead that "declining rates stabilize the Iraqi dinar lies in the political interference in the political central bank and currency market as well as the political crisis worsening and the control of mafias large in buying and selling the currency of the central bank auction," adding that "There is a close link in Iraq between the capital market and political crises and the security situation. "

Suri said that "Iraq is living the suffocating political crisis in years, as well as the central bank is suffering from a lack of confidence in the currency market because of political interference and the sacking of Bank Governor Sinan al-Shabibi previous suspicions of corruption raised since the financial period."

He called on the picture to "revive the confidence between the financial sector and public sectors, which is the only solution to the stability of the local currency market in Iraq, as well as go to the modern capital market mechanisms and more openness to the private sector."

This has been attributed the parliamentary Finance Committee fluctuation of the exchange rate of the Iraqi dinar against the dollar to the impact on the operations of brokers buy and sell the dollar at the central bank auction.

Witness the exchange rate of the Iraqi dinar against the U.S. dollar fluctuated between one period and another by (3-6) degrees.

The Federal Council of Ministers decided on 16 of October of last year mandated Abdul Basit Turki for the management of the central bank rather than Shabibi that the Integrity Commission issued an order to arrest him, in addition to 16 other officials, including Deputy Governor appearance of Mohammed Saleh various charges.

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