Established in 2006 as a Community of Reality

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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


3 posters

    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation

    lonelyintexas
    lonelyintexas
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    Posts : 4285
    Join date : 2012-12-19
    Location : San Antonio

    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation Empty Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation

    Post by lonelyintexas Sun 21 Jul 2013, 2:44 pm

    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation


    13/07/21 (00: 30 pm)


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    Dr. Sinan Mohammed rida Al-Shabibi *

    The Central Bank has encountered some problems at the beginning of 2012 was increased demand for the dollar as a result of the departure of u.s. troops and growing regional demand, especially by Syria and Iran. It was a big shock in the economic sense had led to increased demand for the dollar and the high volume of foreign currency auction. And the phenomenon of external shocks are not unusual in developing countries but are fundamental properties of the property because of the openness of their economies on the abroad. This may take a long time affected by shocks and vibrates through the exchange rate and other economic variables.

    These shocks to the demand for the dollar, and not surprisingly, the countries resort to some restrictions to regulate demand. Success varies as a result of these actions. This means that fluctuations in the exchange rate in 2012 was mainly due to external shocks and not because of internal policy. Restrictive methods were not effective, but effective treatment which resulted in great success was by lifting all restrictions and liberalization of the exchange rate and demand for foreign currency in full as shown in statement No. 19 on 1/10/2012 where "committed the Bank to maintain the value of the Iraqi dinar and stability as part of its policy for the protection and development of the Iraqi economy,

    and in this context include the Central Bank of Iraq to meet the demand for foreign currency by not intersects with the law on money laundering and funds crime and terrorism No. 93 Act 2004 and regulations issued in this regard. "If the Central Bank crisis in the previous period are the result of a violent, external shock oscillation in time of the current administration was the result of their policies, and finally the treatment wasn't as a result of the cash management policy but as a result of initiatives by banks was the reduction of the rate of Exchange offered to end customers by reducing their profits. I have been restricting the supply of foreign currency from (in the tenth month of 2012). This restriction continues for the new Administration's unwillingness to meet demand fully believing that it avoids waste of public money, the Department was not aware that the basis for the Central Bank by law is the stability of the exchange rate, so it is very necessary that all interview request otherwise involving banking and administrative irregularities or that which involves the operations of money laundering and terrorist financing.

    Therefore, the price has continued to rise and become the limits of 1280 dollar dinars at the end of the fifth month of the year 2013. Do not know how to be in front of the waste of public money and we meet a demand for the dollar and take his Iraqi uniforms and resulting instability in the exchange rate. The current Administration sells now amounts beyond what the previous Administration sells in the recent period, why there was wastage in the past – as has been said-and there's no waste now!? The new Administration has adopted a remedy inconsistent with principles of monetary policy. This treatment is that the banks to reduce the price of the dollar, which means that the procedure was the same exchange rates and not on exchange rate fundamentals (of supply and demand of foreign currency). The targeting of direct price had ignored the basics of price so it is merely administrative procedure. But relying on the basics of using the reserve price to meet demand, which would lower the dollar, this issue is not an administrative issue market, if a reserve for the basics, we increase the price of the dollar.

    Then it was the Monetary Authority reduced the dollar by pumping money supply through the reserve and not through a direct reduction in banking sector. In other words, the treatment must be within the monetary policy. Treatment through the reserve will be more stable and durable. Price change or decrease in this case must be due to the impact of monetary policy, especially the money supply and exchange rate policy. And this should not be reduced because of lower profits from banks it is stability and continuity, on the one hand, it is also not within the means of monetary policy on the other. This method has produced (by banks) lower the exchange rate from 1280 to 1225, the price is still high. On the other hand, the treatment of cash through banks will impose certain limitations on the Central Bank, and increase bargaining power when private banks when asking the Central Bank to apply certain measures of development, such as increasing the capital of banks or request through the revitalization of the financial intermediary to organize reality.

    Finally, the exchange rate policy is a policy of total the area while banks is partial. Exchange rate is a primary function of the Central Bank, and is definitely not of the banks, the Central Bank has a reserve from which to satisfy all levels of demand. It is possible to reach the same result, any devaluation of the dollar, through the reserve and therefore be before the monetary policy to maintain exchange rate stability under the leadership of the Central Bank. Trading with banks on the issue of the exchange rate is needed, but this trade must go out to the governmental and parliamentary authorities and the private sector also, can this trading policy cover other cash.

    * Central Bank Governor article


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    Sarisus
    Sarisus
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    Posts : 139
    Join date : 2012-12-29

    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation Empty Re: Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation

    Post by Sarisus Sun 21 Jul 2013, 4:38 pm

    Finally, the exchange rate policy is a policy of total the area while banks is partial. Exchange rate is a primary function of the Central Bank, and is definitely not of the banks, the Central Bank has a reserve from which to satisfy all levels of demand. It is possible to reach the same result, any devaluation of the dollar, through the reserve and therefore be before the monetary policy to maintain exchange rate stability under the leadership of the Central Bank. Trading with banks on the issue of the exchange rate is needed, but this trade must go out to the governmental and parliamentary authorities and the private sector also, can this trading policy cover other cash.




    I have a demand level that needs satisfying! :D 
    day dreamer
    day dreamer
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    Posts : 3197
    Join date : 2012-12-19

    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation Empty Re: Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation

    Post by day dreamer Sun 21 Jul 2013, 5:52 pm

    The new Administration has adopted a remedy inconsistent with principles of monetary policy. This treatment is that the banks to reduce the price of the dollar, which means that the procedure was the same exchange rates and not on exchange rate fundamentals (of supply and demand of foreign currency). The targeting of direct price had ignored the basics of price so it is merely administrative procedure. But relying on the basics of using the reserve price to meet demand, which would lower the dollar, this issue is not an administrative issue market, if a reserve for the basics, we increase the price of the dollar.

    Then it was the Monetary Authority reduced the dollar by pumping money supply through the reserve and not through a direct reduction in banking sector. In other words, the treatment must be within the monetary policy. Treatment through the reserve will be more stable and durable. Price change or decrease in this case must be due to the impact of



    monetary policy, especially the money supply and exchange rate policy. And this should not be reduced because of lower profits from banks it is stability and continuity, on the one hand, it is also not within the means of monetary policy on the other. This method has produced (by banks) lower the exchange rate from 1280 to 1225, the price is still high. On the other hand, the treatment of cash through banks will impose certain limitations on the Central Bank, and increase bargaining power when private banks when asking the Central Bank to apply certain measures of development, such as increasing the capital of banks or request through the revitalization of the financial intermediary to organize reality.

    Finally, the exchange rate policy is a policy of total the area while banks is partial. Exchange rate is a primary function of the Central Bank, and is definitely not of the banks, the Central Bank has a reserve from which to satisfy all levels of demand. It is possible to reach the same result, any devaluation of the dollar, through the reserve and therefore be before the monetary policy to maintain exchange rate stability under the leadership of the Central Bank. Trading with banks on the issue of the exchange rate is needed, but this trade must go out to the governmental and parliamentary authorities and the private sector also, can this trading policy cover other cash.


    * Central Bank Governor article

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    Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation Empty Re: Select Exchange rate. The initiatives of banks is good but monetary policy is the Foundation

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