Finance Committee: CBI to apply mechanism to raise value of IQD prior to June 2014; The reliance on CBI monetary policy open

Posted: August 20, 2013 in Iraqi Dinar/Politics
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| on 8/20/2013

Confirmed the parliamentary Finance Committee that “the first cause the dollar to rise against the Iraqi dinar lies in the political set by the Central Bank as the monetary policy pursued by the central bank with the companies and banks that deal with the bank.”

A member of the Committee Faleh applicable to the newspaper “integrity electronic” that “the central bank told the Finance Committee in the House of Representatives will be followed by a new mechanism in place will contribute significantly raise the value of the Iraqi dinar ahead of next June will be the mechanism capable of raising the value of the Iraqi dinar against the U.S. dollar.”

The force added that “the central bank to reduce the size of the companies that deal with it and put the money in the auction, which will lead to a reduction in the value of the dollar and reliance on monetary policy open without complicated procedures and controls and open a wider field of hopes the government banks.” It is noteworthy that the banknotes market witnessed a clear variation in the exchange rate of the U.S. dollar against the Iraqi dinar.

http://bit.ly/18HIUtT

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Alternate translation:

Financial: reliance on Central Bank monetary policy open

| On 2013-08-20

The parliamentary Finance Committee stressed that “the primary cause of high dollar to Iraqi dinar lies in the political set by the Central Bank since the monetary policy pursued by the Central Bank with businesses and banks that deal with the Bank”.

The Committee Member said Faleh Sari for daily “Alalam” that “the Central Bank told the House Finance Committee will follow the new theme mechanism will make a significant contribution in raising the value of Iraqi dinars before next June and will be the mechanism to raise the value of the Iraqi dinar against the US dollar.”

He said in effect that “on the Central Bank to reduce the size of the companies that deal with money raised in the auction, which will lead to the reduction of the value of the dollar and rely on open monetary policy without complicated procedures and controls and opening wider the hopes of State banks. The banknote market has seen obvious variation in the exchange rate of the US dollar against the Iraqi dinar.

http://bit.ly/19vorJI

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