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Economic: low dinar exchange rate against the dollar due to the failed policy of Central Bank [audio]
Sunday, 02 June 2013 06: 23
The
parliamentary Economic Committee, attributed the continuing decline of
the dinar against the dollar, Central Bank policy "failed".
The
Central Bank has promised to take action to lift and stabilize the Iraqi
dinar price as before but the lower-than-value and the dinar is still
going on.
He said the decision of the Commission to each agency
mehma Khalil Iraq [in] the continued decline of the dinar is the result
of political failure of the Central Bank and keep the supply and demand
due to the recent changes to the policy on the management of Bank plus
prolonged Government extended the powers of independent bodies,
including the Central Bank. "
"The Central Bank today takes more
directives and decisions of the Government which is committed to the
legislative side, although the Constitution provides that the Bank is
linked to the" House of representatives ".
He said "the Iraqi
environment and as a result became the current conditions environment
anthelmintics foreign currency and is not attractive and citizen as a
result of the lack of customs tariffs and the absence of legislative
regulations, goods enter the Iraqi market from different origins as a
result of the lack of customs tariff code and that a number of factors
led to the decline of the dinar.
Observers and analysts believe
that the growing popularity of economists buy the dollar has led to a
significant decline in the dinar and attributed it to smuggle most of
the Central Bank daily of dollars abroad.
With 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 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 the Central Bank shut down such 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 currency and the Bank is subject
to investigations against former County Sinan Al-Shabibi, who left Iraq
for several months and longer for fear of arrest under the warrant.
And
complain about the staff 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 clothes ended up 2.
[You must be registered and logged in to see this link.]
Sunday, 02 June 2013 06: 23
The
parliamentary Economic Committee, attributed the continuing decline of
the dinar against the dollar, Central Bank policy "failed".
The
Central Bank has promised to take action to lift and stabilize the Iraqi
dinar price as before but the lower-than-value and the dinar is still
going on.
He said the decision of the Commission to each agency
mehma Khalil Iraq [in] the continued decline of the dinar is the result
of political failure of the Central Bank and keep the supply and demand
due to the recent changes to the policy on the management of Bank plus
prolonged Government extended the powers of independent bodies,
including the Central Bank. "
"The Central Bank today takes more
directives and decisions of the Government which is committed to the
legislative side, although the Constitution provides that the Bank is
linked to the" House of representatives ".
He said "the Iraqi
environment and as a result became the current conditions environment
anthelmintics foreign currency and is not attractive and citizen as a
result of the lack of customs tariffs and the absence of legislative
regulations, goods enter the Iraqi market from different origins as a
result of the lack of customs tariff code and that a number of factors
led to the decline of the dinar.
Observers and analysts believe
that the growing popularity of economists buy the dollar has led to a
significant decline in the dinar and attributed it to smuggle most of
the Central Bank daily of dollars abroad.
With 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 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 the Central Bank shut down such 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 currency and the Bank is subject
to investigations against former County Sinan Al-Shabibi, who left Iraq
for several months and longer for fear of arrest under the warrant.
And
complain about the staff 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 clothes ended up 2.
[You must be registered and logged in to see this link.]
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