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Measures to improve the Iraqi currency

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Proven
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Measures to improve the Iraqi currency

Post by Proven on Sun 12 Apr 2015, 5:41 pm

Measures to improve the Iraqi currency

4/13/2015 0:00
BAGHDAD - Farah pumice
The appearance of the morning: Required review dinar compared with the dollar with the central bank from making swift action to improve the value of the Iraqi dinar against the dollar, the economic expert of new proposals to make it happen on the ground. decided the central bank to take based on the formats with the government action to stop the decline the dinar against the dollar in the local foreign exchange market, by doubling the share exchange companies in Auctions sale of foreign exchange, and open ports to sell the dollar in state banks are (Rafidain and Rasheed and the Iraqi trade) companies and small importers economist Dr. appearance of Mohammed Saleh suggested in this regard correct path and the value of the dinar Iraq's new prices in line with the economic situation faced by the country, saying that the official discount rate of the dinar against the dollar is unrealistic in light of Alhalah.ufema circumstances pointed to the "morning" that the central bank's reserves, which covers currency in circulation as much as time and a half, and was built on the basis of revenues oil to $ 103 a barrel, with a surplus in the balance of the Iraqi payments, but the current situation has changed from the previous to lower global oil prices as the price of a barrel generator of foreign currency for Iraq nearly $ 53, Maady to get a current account deficit of the balance of the Iraqi payments.

Salih stressed the need lift restrictions on the Central Bank determines amounts sell the currency within Article 50 of the federal budget for the 2015 law, returned this restriction "danger" to the Iraqi market stability, as well as the pricing of the Central Bank, which do not help the stability of the existence of the market Almoizih.otans Article 50 of the Federal Budget Law 2015: "The central bank is committed to identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million dinars a day."

As Saleh, said that the presence of the deficit in the current account of the balance of payments can not be treated in the same official pricing in place of the dinar against the dollar, what leads to the depletion of foreign currency.

The central bank sells foreign currency in daily currency auction, specifically the US dollar by 1166 Iraqi dinars plus a commission of 21 dinars remittances and 29 dinars for Cash.

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Neno
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Re: Measures to improve the Iraqi currency

Post by Neno on Sun 12 Apr 2015, 5:55 pm

Pretty interesting paragraph:

Saleh suggested in this regard correct path and the value of the dinar Iraq's new prices in line with the economic situation faced by the country, saying that the official discount rate of the dinar against the dollar is unrealistic in light of Alhalah.ufema circumstances pointed to the "morning" that the central bank's reserves, which covers currency in circulation as much as time and a half, and was built on the basis of revenues oil to $ 103 a barrel, with a surplus in the balance of the Iraqi payments, but the current situation has changed from the previous to lower global oil prices as the price of a barrel generator of foreign currency for Iraq nearly $ 53, Maady to get a current account deficit of the balance of the Iraqi payments.


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ron-man
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Re: Measures to improve the Iraqi currency

Post by ron-man on Sun 12 Apr 2015, 9:11 pm

Yes I saw that too.
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lonelyintexas
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Re: Measures to improve the Iraqi currency

Post by lonelyintexas on Mon 13 Apr 2015, 9:07 am

The central bank sells foreign currency in daily currency auction, specifically the US dollar by 1166 Iraqi dinars plus a commission of 21 dinars remittances and 29 dinars for Cash.

Here is actually an example of the remittances that are in effect.
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Re: Measures to improve the Iraqi currency

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