The Stability of the Iraqi Dinar Exchange Shares in Maintaining the Prices of Goods
|July 15, 2014||Filled under Iraqi Dinar News|
Iraqi Dinar News –
Citizens praised the actions the government and the Central Bank of Iraq
Yielded the efforts of the government, represented by the competent bodies for the stability of the exchange rate of the Iraqi dinar, despite attempts by gangs “Daash” terrorist influence it through the theft of millions of dollars and dinars from the provinces of Mosul and Salahuddin.
praised the citizens of actions taken by the CBI in this regard, particularly supplied confounded significant financial gave the Iraqi dinar strength, which led to keeping the prices in the markets.
Was Central Bank Governor Abdul-Basit Turki has said recently, that the strength of the Iraqi dinar and the precautions that support has not been affected despite the recent situation in Iraq, noting that “cash reserves in support of the Iraqi dinar is 70 billion dollars, and that the central bank is able to support the exchange rate of the dinar.”
The exchange rate of the dinar in the banking offices 1220 dinars with a rate of exchange official 1166 DT is the price stable, because the increase is up to 2 percent represents an acceptable price and stable, according to financial expert, the appearance of Dr. Mohammed Saleh.
Says in favor of the “morning”: “Built monetary policy for Iraq since 2004 on a system called (School currency), which is that the Iraqi dinar is fully covered in foreign currency with wide latitude for conversion The guarantee key to the stability of the dinar.”
He said the conversion is not intersect with the legal fight against money laundering, and money crime and terrorism, so the citizen is free to the conversion process. added expert said: “the Iraqi dinar financial reserves represent state revenues from oil, the reserves associated with Imports of oil in an integrated manner.”
He said that the Iraqi dinar itself hard currency for the absence of other mechanisms for ordering associated with the reserves of foreign, especially that he (Iraqi dinar) issued a liability interview assets of Foreign Exchange, as well as that of the oil sector is the leverage of its value. Salih noted The continuity of the oil activity, regardless of instability between the center and the region that do not affect the largest percentage of Iraq’s exports, estimated at 80 percent of the SOC, as linked to the central bank reserves revenues of the government’s foreign exchange by converting it to the dinar, as well as freedom of foreign exchange, especially since he Over the past year were converted Mali includes remittances and Foreign Exchange in cash and credits worth some 52 billion dollars, while the current year, the indications point to the limits of 50 billion dollars, so the supply of cheap goods and the freedom of the conversion of Iraq made Almacheram prices stable.
According to financial expert, the Ministry of Oil recently announced that the export level of 2.9 million barrels a boat from the South Oil only, and this is consistent with the goal of balancing the year 2014 is approved, believing that the economies of southern Iraq is the main player in the value of the Iraqi dinar.
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