The central bank goes beyond the red lines
Samir al-Nusairi «Economy News»
Samir Al Nusairi *
More than a month ago, the seeds of reform in monetary policy began to bear fruit and the cash market began to feel the results of the sound monetary policy applications adopted by the bank two years ago.
These successes appeared in monetary stability, recovery of the Iraqi dinar and its appreciation against the dollar exchange rate. Due to Iraq's unstable political, economic and security conditions.
Surprisingly, however, the appreciation of the Iraqi dinar continued despite electoral rivalries, US threats to Syria, a turbulent regional situation and the impact of Turkish and Iranian currencies.
And the decrease in value compared to the Iraqi dinar and thus exceeded the red lines, and that the target set by the Central Bank is to reach the exchange rate of 1200 dinars per dollar has already been achieved,
which will be reflected on the decline in demand for the dollar in the window selling the currency and the parallel market in addition to the rise in oil prices, And reduces the deficit in the budget of 2018.
This confirms that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and support the state treasury and methods and procedures and new instruments in the applications of monetary policy,
"emphasizes the main anti-money laundering Financing of terrorism, strict compliance with international regulations, rules and standards, re-evaluation and classification of banks in the light of their compliance with compliance regulations and identification of the last beneficiary in the window of sale of foreign currency
and the work of new mechanisms in the pre-emptive control internally and externally led to the high value and purchasing power of the Iraqi dinar
and this means that the most prominent reasons for recovery The Iraqi dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with him and abide by the instructions and standards issued by the Central Bank.
Added Date 13/04/2018