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Keywords: foreign currency reserves is twice the size of the dinar in the market and inflation to less than 2%

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Keywords: foreign currency reserves is twice the size of the dinar in the market and inflation to less than 2%

[ltr]Author: ASJ, BS
Editor: BS, NS
19/06/2015 13:51
Number of Views: 3761 [/ltr]

[ltr] Long-Presse / Baghdad
The governor of the Iraqi Central Bank on the Keywords, on Friday, that there are attempts to weaken the Iraqi dinar, and while noting that the foreign currency reserves in the Central Bank is twice the size of the Iraqi dinar in the market, confirmed the arrival of the inflation rate to less than 2%.
Keywords and said in a statement received (range Press), a copy of it, that "the past few days have proved that there are attempts to weaken the Iraqi dinar, as well as attempts by speculators fool hard facts that have failed and will develop to fail at any time," adding, that "foreign currency reserves the central bank is twice the size of the Iraqi dinar in the market. "
Keywords and added, that "there is a progressive increase in the production and prices of oil in Iraq," noting that "the inflation rate amounted to less than 2% of what makes the strength of the local to our currency."
Keywords explained, "and no direct support from the International Monetary Fund and the World Bank and the Islamic Development Bank to overcome the oil price shock," pointing to "almost daily coordination between monetary and fiscal policy for the first time."
He pointed Keywords, to "low consumer government spending dramatically," stressing that "there are indications and the facts confirm the defeat of terrorism in the near future."
The Prime Minister Haider al-Abadi stressed, on Thursday (the eighteenth of June 2015) on the need to follow up and address any problematic novel about the dinar exchange rate against the dollar in the local markets, as approved crisis cell on the proposal of the Central Bank delete the amounts added on remittances, stressed the need commitment to the oil agreement with Erbil.
The Central Bank of Iraq, announced on Thursday (the eighteenth of June 2015), sold for $ 203 million to applicants in the currency auction, as he emphasized the need to cover the market.
Economists attributed, in the (16 June 2015), the high dollar exchange rate against the dinar to the floundering economic policy, and the neglect of the productive sector, while the Parliamentary Finance Committee confirmed that the concerned state has taken action to support the value of the dinar, which increase the width of the dollar in the market Package and acceptance of all purchase orders submitted by traders and banking companies and banks, and the abolition of tax deposit and customs that were collected in advance by eight percent.
Finance Committee in the Iraqi Council of Representatives promised, on Monday (the fifteenth of June 2015), that many of the question marks are raised on the outcome of the Iraqi Central Bank action to stop the deterioration of the value of the dinar against the dollar, while the economic and investment commission parliamentary felt that many of the economic crisis solution is to amend the law so as to ensure the bank's independence from the government, and carry Bankers "abuse" the central bank responsibility for a stronger dollar, despite the latter denied this and accused them of responsibility and speculators, and vowing action "deterrent"
The Central Bank of Iraq, decided Tuesday (June 16, 2015), considered Saturday formally durable, banks to meet the need of the currency, noting that it reduced the duration of the special deposit amounts from ten to five days.
And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.


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