Deputy National: Government interference in the work of the Central Bank's monetary policy uncertain

Deputy National: Government interference in the work of the Central Bank's monetary policy uncertain because behind

Thursday, 23 May 2013 18: 40




He attributed the MP block citizen, Mohamed allkash flop in political cash to government interference in the work of the Central Bank.

He said Allkash's all in Iraq, a copy, "dollar and Iraqi dinar declines caused by immersing the monetary policy and Government intervention in the work of the Central Bank of Iraq".

The Central Bank has promised to take action to lift and stabilize the dinar as before but the decline of the dinar continued.

Staff complain and retirees who receive their salaries in Iraqi dinars from high prices and salaries are no longer sufficient to meet their needs and that the rise in price included real estate and rentals add to transportation, food and clothing.

Many believe that the growing popularity of buying the dollar has led to a significant decline in the dinar. And attributed to smuggle most of the Central Bank of Syria and Iran to which are under siege and the increasing need of hard currency.

The Iraqi Central Bank announced shortly before the new measures limiting the availability of American currency markets that conveys to them, amid suspicions that suggest large amounts of smuggling hard currency to Iraq for neighbouring countries.

The Iraqi Central Bank, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select weekly quotas are banks and money transfer companies and dollar currency trading companies valued in accordance with their respective capital, will increase and reduce the quota for each delivery commitment amounts that customers of citizens.

And goes to the Iraqi exchange market observers that the smuggling of large quantities of dollars to Iraq for Syria and Iran, both suffering international sanctions caused the scarcity of hard currency has, one of the most important reasons for the increased demand for dollars by Iraq, so declining Iraqi dinar exchange rate.

And the Central Bank to put the dollar at an auction for the sale of foreign currency at subsidized prices and the real exchange rate lower in the market to support the dinar.

Observers fear off the Iraqi Central Bank auctions and then doubled the value of the dollar against the Iraqi dinar ".

The Central Bank is facing charges for its staff in conjunction with State officials in corruption and smuggling of currency operations, the Bank is subject to the thavikat against the former Director Sinan Al-Shabibi, who left Iraq for several months and longer for fear of arrest under the warrant expired.



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