Home
Identifying the most prominent ways to reduce “manipulation” of exchange rates and stabilize the national currency
December 11, 2024
Baghdad/Iraq Observer
Today, Wednesday,
Advisor to the Prime Minister, Mazhar Muhammad Saleh,
revealed ways to
reduce manipulation of exchange rates and
stabilize the national currency, while stressing the
reduction of the use of foreign currencies in unproductive operations.
Saleh said in a statement to the official agency and followed by “Iraq Observer”:
“The Prime Minister’s directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators.
This remains of great importance in
enhancing currency stability and
reducing harmful speculation in the national economy, through mechanisms.” Leading to
combating illegal speculative activities, including specifically:
tightening control over suspicious financial transfers that conflict with the rules of
compliance and transparency and in a way that
reduces the activities. Illegal acts, such as money smuggling or manipulation of exchange rates, which
maintains the stability of the value of the national currency.” He added,
“Taking strict measures against speculators and manipulators in the currency market
strengthens confidence in the financial system and
demonstrates the strength of government policy in protecting the national economy, and
increases the confidence of citizens and investors in the country’s financial system, as well as
directing resources towards the real economy to invest in the opportunities available in it, whether industrial.” Or agricultural or services,” pointing out that
“by limiting speculation, the use of foreign currencies in
unproductive operations is reduced, which
helps save them to finance imports or beneficial investments.” He continued,
“The measures to protect against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illicit gains, which enhances the stability of the local market.” Saleh stated that “the
importance of reducing speculation and the opportunities of speculators remains to
enhance the efficiency of the banking system through the role of
monitoring financial transfers, which undoubtedly contributes to
revealing the gaps in the banking system and
enhancing governance and transparency in it, as
such measures
are in line with the comprehensive reform plan for the financial sector.” and banking, and aims to
enhance financial stability and
prevent violations that negatively affect the national economy.”
https://observeriraq.net/تحديد-أبرز-طرق-تقليل-التلاعب-بأسعار-ا/
December 11, 2024
Baghdad/Iraq Observer
Today, Wednesday,
Advisor to the Prime Minister, Mazhar Muhammad Saleh,
revealed ways to
reduce manipulation of exchange rates and
stabilize the national currency, while stressing the
reduction of the use of foreign currencies in unproductive operations.
Saleh said in a statement to the official agency and followed by “Iraq Observer”:
“The Prime Minister’s directives to the monetary and financial authorities stressed the intensification of inspection and control procedures for financial transfers and monitoring speculators.
This remains of great importance in
enhancing currency stability and
reducing harmful speculation in the national economy, through mechanisms.” Leading to
combating illegal speculative activities, including specifically:
tightening control over suspicious financial transfers that conflict with the rules of
compliance and transparency and in a way that
reduces the activities. Illegal acts, such as money smuggling or manipulation of exchange rates, which
maintains the stability of the value of the national currency.” He added,
“Taking strict measures against speculators and manipulators in the currency market
strengthens confidence in the financial system and
demonstrates the strength of government policy in protecting the national economy, and
increases the confidence of citizens and investors in the country’s financial system, as well as
directing resources towards the real economy to invest in the opportunities available in it, whether industrial.” Or agricultural or services,” pointing out that
“by limiting speculation, the use of foreign currencies in
unproductive operations is reduced, which
helps save them to finance imports or beneficial investments.” He continued,
“The measures to protect against currency speculation come to limit the negative effects resulting from the impact of regional crises, through preventive measures that reduce the exploitation of economic and political crises in the region to achieve illicit gains, which enhances the stability of the local market.” Saleh stated that “the
importance of reducing speculation and the opportunities of speculators remains to
enhance the efficiency of the banking system through the role of
monitoring financial transfers, which undoubtedly contributes to
revealing the gaps in the banking system and
enhancing governance and transparency in it, as
such measures
are in line with the comprehensive reform plan for the financial sector.” and banking, and aims to
enhance financial stability and
prevent violations that negatively affect the national economy.”
https://observeriraq.net/تحديد-أبرز-طرق-تقليل-التلاعب-بأسعار-ا/
