Scaling the Phenomenon of Amplification Enhances the Dinar Exchange Rate
|February 3, 2014||Filled under All Dinar Trade Articles|
Specialist: the monetary policy of the leading economic policies
Encircle the problems of monetary policy has become the focus of most of those concerned with financial, in order to reach the financial sector works of running a court check the economic viability of the country and promote all sectors so they can create the economy of multi-resource. economic stability competent Rei financial Samir Nasiri said that monetary policy is one of the most prominent economic policies aimed at achieving economic stability and stabilization of the exchange rate, which in turn increases the national economy strength and effectiveness to meet the economic challenges. pointed in an interview for the “morning” that the central bank succeeded in achieving a large reserve foreign exchange amounted to more than 80 billion dollars and 30 tons of gold.
Indicating that fixing the exchange rate of the Iraqi dinar against the dollar key in (the dollar) is considered to be necessary and appropriate, and had a foreign currency auctions held by the Central Bank of Iraq played an important role in maintaining the appropriate level of the exchange rate and install it. monetary policy and said when he gets any pressure on rates exchange rate, the central bank will tighten monetary policy and narrowed and allow greater flexibility in the management of monetary policy.
It has taken the CBI several steps to expand the list of available tools of monetary policy, and the coverage of reserve required to include government deposits, and the granting of facilities on deposits that mature in a short period in order to allow banks to manage the development of their liquidity more efficiently.
Financial system was Alnasiri has pointed out that monetary policy begun to establish a framework for effectively working towards strengthening confidence in Iraqi dinars. It helps the confidence in the local currency to create the conditions for strong and deep in the stability of the financial system, the effect of any transfer of operational objectives for monetary policy to achieve the immediate goals of the policy itself.
And that the power to address the dollarization, is a measure of the effectiveness of monetary policy in the provision of reference moving to make the Iraqi dinar more attractive and that is usually reflected the stability of the demand function for cash or low velocity of money circulation and stability of any due to the influence of my reference exchange and interest variables positive actor in the stability of the cash demand. price exchange and reduce the phenomenon of inflationary said that the gradual decline in the phenomenon of inflationary reflects the positive effects of the policy of the Iraqi Central Bank in promoting the exchange rate of the Iraqi dinar, which peppered effects of the strong stability of commodity prices interchangeable and that Eshrha at the same time the annual inflation mainly expressed in index prices consumer, where This policy led to a reduction in annual inflation rates of 53.2 percent in 2006 to 5.6 percent in 2012.
In the field of management system of public debt between Alnasiri the importance of working in accordance with the system of debt management and financial analysis for the UN in order to match the tables of the external debt of Iraq with creditors and issuing reports on the indebtedness and in coordination with the Department of public debt management at the Finance Ministry, explaining the importance of the role of the Iraqi Central Bank to act as financial advisor to the State for being the monetary authority’s main country that they must avoid the economy negative trends and to support actions that will strengthen the position of the Iraqi currency and stability and without coordination between fiscal and monetary policies.
It can not ensure the achievement of the objectives of monetary policy, because the policy of the State Finance is one of the important factors affecting the monetary developments for the country in the framework of the independence of the Central Bank of Iraq and its monetary policy. regulations and stressed the need to consult with the private banking sector before issuing regulations and executive instructions that enable banks to diversify their operations bank off-balance sheet in order to achieve highly competitive and access to financial resources, deadlines are different and reduce risk in the areas of investment and micro switch from the base of interest in making a profit which operations within the budget in terms of the acceptance of deposits and granting credit. restructuring banks and pointed out that the advancement of the government banking activity and put it on a competitive basis within the banking environment and promising a variety of tools and requires a restructuring of Rafidain and Rasheed, who dominate about 90 percent of the commercial banking activity in Iraq.
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