The high value of the dinar strengthens international confidence in the Iraqi economy
11/3/2018 12:00 am
Pointed him local markets
Recovered Iraqi dinar exchange rate stability leads to enhance international confidence in the national economy, where local markets indicated a rise in the value of the Iraqi dinar against the dollar and conflicting opinions about it and came to be the Central Bank saw Faisal.
General Manager of operations at the Iraqi Central Bank, Mahmoud Dagher that "improved value of aldnyar against the dollar recently, Iraq is not a new phenomenon but is the result of continuous work extended for a full year, through large procedures about the presentation currency and address violations by demand."
Classification and scrutiny
"Last year we were able to stabilize the large upper and lower limits to the dollar either aldnyar, and then we moved to a new situation this year new procedures were adopted classification and audit as well as view.
"It is difficult to have one variable indicator in this change, there are several procedures and greater coverage of demand for the dollar, as well as the emphasis on oversight of sales with banks and regulate this process accurately based on Classifications.
And swank that improve the performance of the Iraqi economy and the transition from war to peace was her reflection on the performance of the various joints of the Iraqi economy clearly including monetary policy.
Synchronize with the procedures set
He noted that "demand for the dollar by selling window has not changed, but what happened, start with relatively larger coverage on demand coincided with" control measures, stating that
"there are inconsistencies in the market sometimes resembles a price levels Relative".
He said: "the dollar target price is 1200 dinars per dollar," pointing out that
"the gap in the foreign exchange market under a fixed price to adopt is central in many economies and is changing.
Work to achieve the goal
He stressed that the year 2018 testify further action to address the gap in exchange rate of aldnyar to the dollar and work continues on the goal, in the absence of all types of shock leading to market confusion, the mainframe can handle any differences and also able to improve the performance of the purchasing power of the national currency.
Faith and upgraded service to the citizen, and some 28 million Iraqis benefit from improved purchasing power and economic policy works must be Combined
Swank cautioned the Central Bank covers the demand for dollars and was unchanged over the past year, according to the request of the banks as demand for dollars is covered altsanik and operate in accordance with the classification, the Bank aims to increase demand it by raising ytdaifh.
He stressed that Iraq's cash reserve exceeding 50 billion dollars, and it's time to go to banks to diversify its purses by settling wages through attracting dealers and importers who are more familiar with the market, must work in this direction in the future.
Steps of development
Executive Director of the Association of banks ist on Gibraltar stressed that "ASEAN mechanisms to support efforts to stabilize the exchange rate of the Iraqi aldnyar force which is recovering gradually during the past period."
And drew the Tarek that represents Association supported the work of the Iraqi Central Bank took it upon a series of measures that enhance the reality of the financial sector, thereby enhancing the value of the exchange rate of aldnyar ", noting that
"the promotion of human resources represents the most important steps in developing the field of advanced services and banks take You are spreading rapidly, and that the Association had prepared an annual comprehensive plan in this direction to raise the efficiency of the banking sector, both public and private which in turn boosts the power of money in all his joints."
He noted that "the stability of the exchange rate is an important step in supporting the national economy and increasing international confidence in all his joints."
Specialized economic host Samir Al Nassiri was among the large and special efforts made by the Central Bank of Iraq for the last two years had a significant impact in the development of monetary policy tools and procedures for professional services in the Central Bank and the direct supervision of the sector The banker, evaluated and classified in accordance with international standards in addition to internal banking operations for banks which were supporting the implementation of plans the Central Bank contributed to significant contributions in Iraqi dinar recovered compared to the dollar.
"The Iraqi private banks Association urging banks departments need to support Central Bank orientations in the national economy and harnessing the potential of private banks in the central objective is to promote the recovery of the Iraqi dinar and raise cash value and purchasing power against the dollar", Noting
"the importance of continuing recovery situation and take advantage of the openness of the world's economic and investment on Iraq."