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Saleh: the need to unify the exchange rate between the central bank and the market price
June 27, 2015
BAGHDAD / News Network Iraq said economic adviser to Prime Minister appearance of Mohammed Saleh, said Saturday the need to unify the exchange rate between the central bank and the price that deals with people in the market, and make it pricier one actually commensurate with the oil and economic conditions austerity sale and the defense of this price volatility price .
Saleh said in a press statement today: "The Iraqi dinar exchange rate is the same as the external value of the national currency, the value of money and this value is important to relate to the external sector, because most goods and products are imported and we got to the point Import services also including medical, legal and consultancy as well as import Goods, explaining that "the volatility of the exchange rate in favor of the dollar and foreign currency taken from the rights of citizens and affect the income and wealth and hits the standard of living."
He added that "monetary policy is working for the stability of the national currency and to address the volatility," stressing that "the problem of Iraq today reduced the price of a barrel of oil, which depends upon the country in obtaining hard currency, which lost more than 50% of the value of exports and foreign currency, "noting that" with a lower value of exports remained highly prized imports, and therefore there is a deficit on current account. "
He noted that" the administrative and financial operations in General weighed on the exchange rate and decreased value of the dinar against the dollar ", calling for" non-interference to the work of the Central Bank ", noting that" the central bank must find a realistic price for the exchange rate Intasp with the economic situation and defend the state for this price, and the market and the Central Bank the price of one, and that does not exceed the price difference of 2%, explaining that "if the desire of the state to improve the value of the Iraqi dinar, it is with the economy improves conditions in the country."
He stressed that "the big difference at the price of the Iraqi dinar against the dollar between the central bank and the market is leading to the loss of the country The Central Bank ", stressing that the monetary policy should put the price of one, and that the proportion of this price with the price of a barrel of oil, which is sold at about $ 60, not $ 110 and commensurate with the balance of payments deficit and does not have a surplus and with austere budget conditions, and this is decided by the central bank to move away collisions ".
The exchange rate of the Iraqi dinar price exposure to Amadarapat during the last period and a large rise in record time, prompting cell crisis to agree to the proposal of the Central Bank to cancel 8% of customs and excise tax imposed on the purchase of the dollar. The governor of the Iraqi Central Bank and the agency Keywords confirmed the absence of fear of the rise in the dollar's exchange rate against the Iraqi dinar, revealing the "Ask a local bonds worth $ 5 billion; to provide liquidity to the state."
Keywords and said at a news conference in Baghdad that "the central bank has foreign currency is the weakness of the local currency in market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve other targets do not want to enter into details; because this rally is certainly within the indicators is natural, but is this Mahalaot stand the central bank policy ? It is certainly both emergency on the market. "
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June 27, 2015
BAGHDAD / News Network Iraq said economic adviser to Prime Minister appearance of Mohammed Saleh, said Saturday the need to unify the exchange rate between the central bank and the price that deals with people in the market, and make it pricier one actually commensurate with the oil and economic conditions austerity sale and the defense of this price volatility price .
Saleh said in a press statement today: "The Iraqi dinar exchange rate is the same as the external value of the national currency, the value of money and this value is important to relate to the external sector, because most goods and products are imported and we got to the point Import services also including medical, legal and consultancy as well as import Goods, explaining that "the volatility of the exchange rate in favor of the dollar and foreign currency taken from the rights of citizens and affect the income and wealth and hits the standard of living."
He added that "monetary policy is working for the stability of the national currency and to address the volatility," stressing that "the problem of Iraq today reduced the price of a barrel of oil, which depends upon the country in obtaining hard currency, which lost more than 50% of the value of exports and foreign currency, "noting that" with a lower value of exports remained highly prized imports, and therefore there is a deficit on current account. "
He noted that" the administrative and financial operations in General weighed on the exchange rate and decreased value of the dinar against the dollar ", calling for" non-interference to the work of the Central Bank ", noting that" the central bank must find a realistic price for the exchange rate Intasp with the economic situation and defend the state for this price, and the market and the Central Bank the price of one, and that does not exceed the price difference of 2%, explaining that "if the desire of the state to improve the value of the Iraqi dinar, it is with the economy improves conditions in the country."
He stressed that "the big difference at the price of the Iraqi dinar against the dollar between the central bank and the market is leading to the loss of the country The Central Bank ", stressing that the monetary policy should put the price of one, and that the proportion of this price with the price of a barrel of oil, which is sold at about $ 60, not $ 110 and commensurate with the balance of payments deficit and does not have a surplus and with austere budget conditions, and this is decided by the central bank to move away collisions ".
The exchange rate of the Iraqi dinar price exposure to Amadarapat during the last period and a large rise in record time, prompting cell crisis to agree to the proposal of the Central Bank to cancel 8% of customs and excise tax imposed on the purchase of the dollar. The governor of the Iraqi Central Bank and the agency Keywords confirmed the absence of fear of the rise in the dollar's exchange rate against the Iraqi dinar, revealing the "Ask a local bonds worth $ 5 billion; to provide liquidity to the state."
Keywords and said at a news conference in Baghdad that "the central bank has foreign currency is the weakness of the local currency in market, and what happened in the past few days indicates that these attempts involve the kind of speculation and profit-taking may also involve other targets do not want to enter into details; because this rally is certainly within the indicators is natural, but is this Mahalaot stand the central bank policy ? It is certainly both emergency on the market. "
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