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Expert opinion: reduces the risk of speculative attacks in t

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Expert opinion: reduces the risk of speculative attacks in t

Unread postby Stillw8n » Wed Apr 18, 2012 8:47 am

Expert opinion: reduces the risk of speculative attacks in the withdrawal of foreign currency

18/04/2012

BAGHDAD / JD / .. said researcher and academic, Dr. Hussein star need the central bank to change its policies the central bank needs to change in the tactical strategy of monetary policy. He told / to JD / that the solution lies in changing the curriculum, while maintaining the general strategy of monetary policy in Iraq and review tactics for returning extrapolate mechanisms of corporate governance in banks and then re-induction rates of inflation and the trend towards development and not about saving as is the case at the current.

He added that the indicators including the currency is strong enough, but it has to be updated tools for the management of the bank market and actively participate in the management of fiscal policy. He said the star that the government will not enter into debate teams compensate for the withdrawal of currency in reserve, indicating that it would not benefit any of the parties.

The star played down the seriousness of speculative attacks in foreign currency withdrawn from the market, describing it Baellouktah and ineffectual. The economic expert, Dr. Saadi Asia has confirmed that the policies of the bank open and behind the deterioration in the price of hard currency, noting that the problem will not be changing the leadership of the Central Bank, but to change strategies.

She said Saadi, he can, the bank enhances the position of the currency if freed from the pressures faced by Kanfattah trade currency and the possibility of withdrawal of any amount by any person at any time he wants, pointing out that the solution lies in following the new policies, including a return to the stock market and the central control process sale for a dollar limit on a particular day in the volume of sales as a necessary step to get rid of the control elements that you drag the currency in large quantities, causing confusion in the volume of cash reserves at the bank, which often leads to high exchange rate of the dollar against the dinar.

Saadi stressed that the Bank determine the beneficiaries of the hard currency as a measure necessary in the current stage, noting that what is important is not who comes, but what he will do. The Iraqi market is currently witnessing a rise of the U.S. dollar against the Iraqi dinar, as sales rose from the Iraqi Central Bank foreign currency, while the central bank attributed the cause as well as to finance trade in the neighboring countries of Iraq by the merchants.

The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh in January 2012, for raising the price of the Iraqi dinar against the dollar during its sessions for buying and selling foreign currencies at the rate of four dinars, pointing out that the price of the dinar nominal is not commensurate with the purchasing power to him or the real price of the exchange rate of the dinar against the dollar .

The Central Bank of Iraq by January 15 in the past buying and selling of the dollar and the price (1166) during the auction, which is evaluated daily and with the participation of 23 banks, after it was the buying and selling of the dollar price of 1170 dinars to the dollar.

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