Home
Parliamentary Finance proposes the adoption of  flotation unrestricted for the price of the dollar and the central Amtin b reserve meet the needs of the market
Wednesday 16 Sep 2015
Baghdad waves Ahmed of the Finance Committee in the House of Representatives propose to the central bank and the government to adopt "restrictive flotation" in the auction currency instead of "limiting factor" that determines a fixed exchange rate to the dollar price, trying to keep it to fill the market need of hard currency, but officials in the bank stress the latter is subject to economic variables and the movement of the market, noting that Iraq's cash reserve covers the private sector needs hard currency, as well as the money supply of the Iraqi dinar by 160 percent.
The head of the Finance Committee in the House of Representatives, Haitham al-Jubouri, said in an interview to the correspondent of "the world", yesterday , that there are three ways to deal by central banks with foreign currency; first is made up by the "limiting factor" to be adopted by the CBI, which includes a fixed exchange rate to the dollar price, and inject dollars into the market to maintain the stability of the price.
The second method is called "flotation "Jubouri explains that it" thumb market is controlled exchange rate, "noting that" this way pose a threat to the exchange rates, being subjected Iraqi dinar to collapse.
"include third way, a" floating orbit ", or restricted, according to al-Jubouri, the" Select a specific dollar price, and another represents a maximum him, to leave that currency floats between these two prices.
"Jubouri He said that if exchange rates exceeded the maximum the central bank to pump quantities of the dollar as the local market need, noting that his committee suggested the central bank and the government Adoption of this method "being the best, and supported in most countries of the world."
The Jubouri revealed earlier to send 15 thousand purchase invoice currency "rigged" to justice, and stressed that a large number of companies that have turned to money "fake", as called for the formation of a competent financial courts financial matters.
For his part, sees the Board of the Central Bank member Majid picture in connection with "the world", said the bank is trying to maintain the stability of exchange rates, adding that the monetary policy and instructions "change according to economic conditions experienced by the country." .
and see world oil prices since the middle of last year continuous decline, because of the use by some countries to increase Marodha against the lack of demand for it.
He says that the picture of the monetary Bank reserves fell to $ 60 billion due to lower crude prices, but he assured that this decline does not threaten the collapse of the local currency "Being fill 160 percent of the money supply of the Iraqi dinar."
The governor of the Central Bank on the Keywords may Hoon earlier fears, which says that the continued downward pressure the Iraqi dinar, which sells "the central bank" to banks and dealers who obtained licenses at a price fixed in 1166 dinars to the dollar .
"If we look at the markets these days, we will see that the price is very stable, and very reasonable."
The local currency plunged to about 1400 dinars to the dollar on the parallel market in mid-June 1228 week earlier.
As part of the government's efforts to bridge the budget deficit, marketed Baghdad, the first version of its international bonds in nine years in Europe and the United States this week.
The government Taml collect six billion dollars of those dollar-denominated versions, but Keywords said that the first phase will be to collect two billion dollars, and the expectation that the interest rate exceeds the eight percent due to concerns security.
Baghdad is also planning to issue local bonds worth five billion dollars, starting from the last quarter of this year.
[You must be registered and logged in to see this link.]
Are they talking about a managed float in this article.
Thanks
LIT
Wednesday 16 Sep 2015
Baghdad waves Ahmed of the Finance Committee in the House of Representatives propose to the central bank and the government to adopt "restrictive flotation" in the auction currency instead of "limiting factor" that determines a fixed exchange rate to the dollar price, trying to keep it to fill the market need of hard currency, but officials in the bank stress the latter is subject to economic variables and the movement of the market, noting that Iraq's cash reserve covers the private sector needs hard currency, as well as the money supply of the Iraqi dinar by 160 percent.
The head of the Finance Committee in the House of Representatives, Haitham al-Jubouri, said in an interview to the correspondent of "the world", yesterday , that there are three ways to deal by central banks with foreign currency; first is made up by the "limiting factor" to be adopted by the CBI, which includes a fixed exchange rate to the dollar price, and inject dollars into the market to maintain the stability of the price.
The second method is called "flotation "Jubouri explains that it" thumb market is controlled exchange rate, "noting that" this way pose a threat to the exchange rates, being subjected Iraqi dinar to collapse.
"include third way, a" floating orbit ", or restricted, according to al-Jubouri, the" Select a specific dollar price, and another represents a maximum him, to leave that currency floats between these two prices.
"Jubouri He said that if exchange rates exceeded the maximum the central bank to pump quantities of the dollar as the local market need, noting that his committee suggested the central bank and the government Adoption of this method "being the best, and supported in most countries of the world."
The Jubouri revealed earlier to send 15 thousand purchase invoice currency "rigged" to justice, and stressed that a large number of companies that have turned to money "fake", as called for the formation of a competent financial courts financial matters.
For his part, sees the Board of the Central Bank member Majid picture in connection with "the world", said the bank is trying to maintain the stability of exchange rates, adding that the monetary policy and instructions "change according to economic conditions experienced by the country." .
and see world oil prices since the middle of last year continuous decline, because of the use by some countries to increase Marodha against the lack of demand for it.
He says that the picture of the monetary Bank reserves fell to $ 60 billion due to lower crude prices, but he assured that this decline does not threaten the collapse of the local currency "Being fill 160 percent of the money supply of the Iraqi dinar."
The governor of the Central Bank on the Keywords may Hoon earlier fears, which says that the continued downward pressure the Iraqi dinar, which sells "the central bank" to banks and dealers who obtained licenses at a price fixed in 1166 dinars to the dollar .
"If we look at the markets these days, we will see that the price is very stable, and very reasonable."
The local currency plunged to about 1400 dinars to the dollar on the parallel market in mid-June 1228 week earlier.
As part of the government's efforts to bridge the budget deficit, marketed Baghdad, the first version of its international bonds in nine years in Europe and the United States this week.
The government Taml collect six billion dollars of those dollar-denominated versions, but Keywords said that the first phase will be to collect two billion dollars, and the expectation that the interest rate exceeds the eight percent due to concerns security.
Baghdad is also planning to issue local bonds worth five billion dollars, starting from the last quarter of this year.
[You must be registered and logged in to see this link.]
Are they talking about a managed float in this article.
Thanks
LIT
» utube MM&C 4/16/24 IQD Update - Iraq Dinar - America - Activate - Massive Economic Deals -
» Al-Sudani urges the US corporation Honeywell to help finish the Basra refinery
» Al-Sudani Meets with Representatives of Western Media Outlets in Washington
» Chairman of the Investment Authority signs the United Nations Convention on International Mediation
» PM: We will sign a contract to establish the Al-Faw refinery with a Chinese company
» PM arrives in Houston as part of his visit to USA
» Militia Man & Crew 4/18/24 Bush signed it and all presidents implemented it. Iraq’s funds have been
» Association of Iraqi Private Banks: The suspension of some electronic payment services yesterday was
» Iraq is close to launching the electronic signature
» The Basra government discusses with an international oil company the implementation of social benefi
» The Prime Minister confirms to an American company: Gas projects in Iraq are a priority for the gove
» The Minister of Planning discusses with the World Bank mechanisms for scheduling external loans
» Oil sets the twenty-seventh of this month as the date for opening contracts for the fifth complement
» “Electronic begging”...professionalism and fabrication of stories” generates millions of dinars dail
» Al-Sudani calls on the American company Hanwell to contribute to the completion of the Basra refiner
» An American company expresses its willingness to establish LED lighting production lines in Iraq
» Including Iraq.. Iran announces the possibility of exporting 300 megawatts of “renewable electricity
» Political forces present two options to find an alternative to Al-Halbousi
» Parliament is awaiting the arrival of the budget schedules and the government is studying higher spe
» The International Monetary Fund adjusts its expectations for the development of the world’s economie
» A representative talks about the difficulty of finalizing the file of “electing the Speaker of Parli
» Work on preparing a law for diplomatic passports
» A female representative accuses the Ministry of Immigration of corruption
» Minister: Solving the Kurdistan salaries problem is the beginning of addressing other disputes betwe
» About 270 million dollars were sold by the Central Bank of Iraq in the currency auction
» The volume of trade exchange between Jordan and Iraq will exceed 800 million dinars in 2023
» Iraq signs memorandums of understanding with American companies in the fields of electricity, oil an
» The American company that manufactures the F16 expresses its readiness to implement the terms of con
» The volume of expected Qatari investments for the Iraq Fund for Development exceeds $3.5 billion
» Decrease in dollar prices in Baghdad and Erbil
» The President of the Region brings together the Kurdish parties to resolve the election file
» Al-Sudani receives in Washington the Chairman of JPMorgan
» Transport is starting to transform its ports into smart ones
» Sudanese reveals the volume of exchange with America
» "Al-Eqtisad News" publishes the memorandums of understanding signed between the Iraqi delegation and
» Al-Sudani urges an American company to contribute to establishing a chemical materials factory
» Iraq stresses the importance of Lockheed Martin's commitment to opening military aircraft maintenanc
» Iraq is on the verge of a “water disaster” by 2035
» Great satisfaction and optimism with the results of Sudanese’s visit to Washington
» Transport is beginning to adopt a plan to transform its ports into smart ones
» Completed 8,000 loan transactions at the Housing Bank
» Prime Minister: We plan to invest production capacities for export
» Transformation and partnership...a new horizon in Iraqi-American relations
» What is new in the economic dimension of the Washington visit?
» Two letters to the future
» National interests first
» Iraqi-American rapprochement...a national necessity
» Al-Sudani’s visit to Washington and the course of Iraqi-American relations
» Sudanese carries security, economic and development files to Washington
» Armament and military development... features of a sustainable partnership
» Analysts: Sudanese's visit to Washington will achieve excellent results in the future
» Iraqi-American relations...the legacy of the past and the aspirations of partnership
» Sudanese and external necessities
» The Strategic Framework Agreement... 7 important provisions
» Joint statement of the Iraqi-American discussions
» Supreme Coordinating Committee: Iraq's role is vital to the security and prosperity of the region
» Towards an effective bilateral economic relationship between Baghdad and Washington
» She saw it as a new, different chapter in Iraqi-American relations... Al-Sudani’s visit to Washingto
» Al-Sudani’s visit to Washington.. Implications and results
» Advisor to the Prime Minister: The relationship with America has moved to the stage of cooperation
» Sudanese sponsors the signing ceremony of memorandums of understanding in America
» Al-Sudani: The volume of exchange between Iraq and the United States does not exceed 10 billion doll
» During Erdogan's visit on Monday, Iraq seeks to sign the "Water Protocol" with Türkiye
» With the escalation of tension between Tehran and Tel Aviv...an expert reveals the secrets of Sudane
» There are 150 draft laws on the parliament table waiting to be voted on... and the debates require c
» Al-Sudani stresses the necessity of continuing the dialogue with the US Treasury, the Federal Reserv
» Deputy: We reject the term sanctions, and Iraq is financially independent
» Warnings of a “political impasse” after Barzani’s boycott of the elections... Al-Sadr raises questio
» The head of the Kurdistan Regional Government’s representative office in Baghdad visits the external
» Al-Sudani: There are no combat forces in Iraq to withdraw.. The Iraqi Prime Minister confirmed in Wa
» Do the Iraqi political blocs really intend to hold the second early elections?
» Baghdad is not aware of the factions’ participation in the attack on Israel, and Washington is revie
» Progress: Al-Halbousi may return to the presidency of Parliament
» Al-Sudani: Iraq has distinguished relations with Iran and America
» Minister of Industry: Iraq is not a rich country and the electricity problem will not be solved even
» A prospective law to employ prisoners and detainees... job and retirement opportunities similar to E
» Sako in Baghdad.. Three possible scenarios for his return after the “withdrawal of the decree” crisi
» Parliamentary Integrity reveals a move with the judiciary to recover TBI Bank’s funds
» Iraq signs 18 memorandums of understanding with Washington
» An Iraqi judicial delegation arrives in Syria to discuss terrorism files and document ISIS crimes
» A plan to exploit new lands...the latest developments in the wheat, barley and rice season in Iraq
» Al-Abadi accuses oil companies of causing 70% of the cancer rate in Basra
» Justice announces the formation of a higher committee to resolve the state’s real estate file
» Deputy: Iraq seeks to sign the “Water Protocol” with Türkiye
» Al-Sudani stresses the importance of the American company Lockheed’s commitment to opening military
» The team accompanying Sudanese in Washington: America will hand over to Iraq the antiquities that we
» Al-Sudani sponsors the signing ceremony of memorandums of understanding with American companies
» MM&C 4/17/24 Saleh: The budget tables are almost complete and will take into account urgent circu
» Saleh: Private banks in Iraq are considering reorganizing themselves with another government structu
» Al-Sudani: It is not possible to work in any development sector without reforming the banking sector
» Minister of Oil: Kurdistan’s exports will soon resume, and the region must hand over its oil to SOMO
» An economic expert identifies ways for Iraq to get out of oil rents... starting with $350 million
» Parliamentary Oil: A proposal to establish Iraqi refineries in neighboring countries... and these ar
» Al-Ardawi: The Sudanese government seeks to liberalize the Iraqi dinar and stabilize the economy
» MM&C 4/17/24 Al-Sudani receives in Washington the Chairman of JPMorgan
» MM&C 4/17/24 US Supports Iraq in joining WTO
» US Supports Iraq in joining WTO
» utube 4/14/24 MM&C Iraqi Dinar - Iraq Prime Minister in Washington - Coming to