New BD version .. enhance cash to our system
[rtl] Dr.. Mohammed Riad Hamza ,
the reality of the dinar 's trading current segments of confusing and obstructive economic, commercial and service all of the activities, for the Iraqi market , the level ofthe reality of the dinar in the evaluation of commercial exchanges, inter and single, is far from accurate price, as well as in the evaluation of real estate , buying and selling and lease, and facilities banking, trading and any resident currency, any deal large amounts of both ends need to fill categories of dinar bags for exchange between the seller and the buyer. And you can see scenes of people carrying bags of dinar entrants to the banks or exchange houses or coming out of it.
It is certain that the reality of the Iraqi dinar and the low value segments purchasing a catalyst for the crimes of counterfeiting, states that equal their exchange rate with the Iraqi currency plagued by rigging the currency and counterfeit currency have devastating effects on the economy , among the components of the total of any state.
To dinars Iraqi Rolling currently Bocefarh and the small value of the cashed important role in the rise in goods and services and rising inflation rates, since the transactions in the wholesale exclude small - value segments of the dinar, in addition a few thousand dinars to deal consumer goods or long - lived, and circulation of marketing to another port and into the hands of the consumer, the price of the commodity Tuwalia ballooning number of marketing outlets.
The reason is the low purchasing power of the dinar small groups that are excluded when evaluating the price of any commodity.
On 27 August 2015 published (unit of economic studies links for research and strategic studies center) in its website an important article included reference to «that the Iraqi government may resort to the liberalization of the dinar any (floated) something that will not solve the financial problem in the country, but will have disastrous effects on the Iraqi people first and foremost.
On the other hand, the flotation is the port for speculators in the market to carry out money laundering and manipulation of the currency auction within the central bank.
Currency float means leaving the exchange rate of a currency float rises and falls reverse proportion to the cases of demand and supply in the market.
And taking into account the level of emancipation of the national economy, and the quality of his performance, and flexibility of its production apparatus.
It is the risk of this operation is that it opens the door to money laundering and corrupt diversion of funds from the Iraqi dinar to the free exchange for smuggling operations
The survival of the purchasing power of the Iraqi dinar is weak seesaw at home and are not supported in the outside with rampant financial corruption contributes to convert the dinar into other currencies smuggled out what causes inflation rise, as to keep large amounts of the dinar in the Iraqi market means inflation liquidity, which makes it easier out more of foreign currency from the
The solution is not to delete zeros or dinar floated, but substituting new Iraqi dinars and linking its exchange rate to the US dollar.
The issuance of any new Iraqi dinars equivalent to the dollar in the exchange rate.
It consists of one hundred per dinar fils and groups: one dinar, five dinars and ten dinars, and twenty dinars, and fifty dinars, and one hundred dinars.
Minting coins from fils and five fils, ten fils fils twenty, and fifty fils, and one hundred fils.
And ensuring the stability of the monetary system and eliminate the flaw in the current system , which allowed rampant
As has been the abolition of the currency of the former regime after 2003 and replacing rolling dinar now, it can be done through the abolition of the current period of time and bring new dinar.
It is important that the Iraqi Central Bank assisted by experts from the «Federal Reserve« The US central bank in the Iraqi monetary system , the development of the currency enjoys the trust of high exchange locally
Central banks play a major role in financial instruments control in all countries of the world, the most important tool in the hands of the Central Bank is the monetary policy, it is through an increase in liquidity can stimulate the economy out of the state of economic crisis, or to help the economy grow by encouraging exports, reducing inflation.
The currency of the Iraqi dinar in US dollars fasten it means installing currency dinar price of a fixed exchange rate and a lot of countries in the world this practice is based, there are 17 countries in the world have linked its currency to the US dollar, including six Arab countries , namely Saudi Arabia, Jordan, Oman, the UAE, Bahrain
And connecting the Iraqi dinar to the dollar has several advantages the most important of the ease of exchange rate policy management between the currency of the country and the rest of the world currencies all, where monetary authorities determine the rate specified for the disbursement of the peg through which is determined by the relationship of the dinar to the rest of the currency, it goes up for these currencies with the rising dollar and fall with the
On the other hand, the dollar peg helps relatively to protect the national economy from inflation as well as help link in the case of oil -producing countries to stabilize their revenues in local currency when the devaluation of the dollar, Vpferd the stability of oil prices, the decline in the global value of the dollar does not lead to a decline in oil revenues of Iraq
It will be issuing new Iraqi dinars a way to expose corruption as it requires the replacement of currency in circulation is the new currency.
At that expose those who shelve billions of current Iraqi dinar and act within the framework of the weak monetary system and politicized the farthest thing from transparency.
It can also be placed CBI commercial banks before the deal could expose any abuses of money laundering and the smuggling of hard currency
The main reason behind the dollar peg is to maintain stability and increase the confidence to deal with, and maintain a fixed exchange rate of the dinar will eliminate the so - called parallel market vowels (black market).
This reinforces the confidence of investors monetary system and its stability and preserve the purchasing power of consumers with incomes
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