Sudanese advisor: Selling dollars in banks is a practical approach to achieving stability in the exc

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[size=52]Sudanese advisor: Selling dollars in banks is a practical approach to achieving stability in the exchange market[/size]

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Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the application of the mechanism for selling dollars in banks constitutes a correct practical approach to achieving stability in the exchange market, pointing out that the monetary policy of the Central Bank continues to provide options as well to achieve this goal.[/size]
[size=45]Saleh said, to the official agency, that “the procedures introduced in providing wide and multiple official outlets for displaying the dollar in cash through the government banking system, with an increase in the allocation for one traveler to 5 thousand instead of 3 thousand dollars, up to 10 thousand dollars, represent a correct option to achieve stability in the exchange market.”[/size]
[size=45]He added, “In addition to this, strengthening credit cards by raising the exchange rate of the dinar when paying through them with an increase in withdrawal ceilings in them, and it constitutes a correct move as well in one of the applications of direct positive intervention in the exchange market on the part of the monetary authority, to generate actual competition between currency sellers in the market.” The secondary exchange rate to be stable within the scope of the central exchange rate of the dinar.[/size]
[size=45]He added, "The procedures followed provide the cash dollar through available, fair and equal opportunities for the beneficiaries, and make it available directly to the groups that need it for the purposes of travel and treatment outside the country."[/size]
[size=45]And he pointed out that “this trend in the policies of intervention in the exchange market is a positive expansion in transforming the dollar cash market into a flexible market that enjoys a high degree of competitiveness, governance and discipline at the same time,” noting that “the monetary policy of the Central Bank of Iraq and within the duties of its intervention in the exchange market By providing an adequate and appropriate supply of foreign currency, it is noted that it is a constant and continuous policy in providing other additional options in providing foreign currency supply, which will contribute continuously to the stability of the exchange market.[/size]
[size=45]He pointed out that "this expansion ensures at the same time maintaining the stability of the general level of prices, which is the lofty goal of monetary policy in the country."[/size]
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