Central calling on the government to keep track of the money and set the border to keep the dollar exchange rate

by **Ponee** Sat Jun 27, 2015 11:22 am

Called on the Central Bank of Iraq, on Friday, ethnic government to control the border and keep track of the money that comes out of the country and the fight against economic crime to reduce the high price of the dollar against the Iraqi dinar, and while pointing out that monetary policy will not be able to own the market adjust, Economic Adviser to the Prime Minister stressed The central has sufficient tools to maintain the stability of the exchange rate.

Central calling on the government to keep track of the money and set the border to keep the dollar exchange rate 520954215

He said the Central Bank's board member Majid picture in an interview for the "long", "The bank has a reserve of foreign currency enough for a long time, and it is difficult that Aydkh central bank financial amount determined by the market."
He added the picture that "the stability of the dollar exchange rate does not depend on the central bank alone, but there are many controls which, if applied across the stakeholders, we will not faced with any rise abruptly to the dollar because pumping money is not the only solution in Iraq. "

He stressed the picture that "Among these controls are set borders with the States and not to allow the smuggling of currency, as well as economic market regulation, and the fight against economic crime, "stressing that" these things that made the dollar rises constantly. "

He called expert as prime minister to "cooperate with the central bank and activating its role so that it can fight who contribute to rising dollar, as well as make critical decisions about it ", adding that" monetary policy is not sufficient to adjust the market alone. "

With regard to the allocated loan funds confirmed by the bank that "the beginning of next July will be released amount trillion dinars for small and large projects," pointing out that "the launch of $ 5 trillion dinars to banks specialized housing fund pending the organization of operations carried out by the Bank. "

For his part, the prime minister for economic affairs adviser appearance of Mohammed Saleh "long", said that "the stability of the dollar's exchange rate against the Iraqi dinar is the duty of the central bank it is responsible for how to make it settles according to what exists has the potential. "
He added that "the central bank is will determine the dollar's exchange rate in accordance with the Maimitlleke of tools, as well as read the economic and monetary policy being responsible for the issue of the dollar and stability in the market price of an independent body in order to not affect the market process."

He stressed the need to "stabilize dollar for the time being the price at a certain amount, whether big or small, but should be stabilized, "stressing that" the Bank has all the ingredients that make he can keep the price of the dollar in the Iraqi market. "

In turn, said an expert on economic affairs Ahmed Fahmy in for "long" that "what is happening in the Iraqi financial market instability in the US dollar exchange rate and direction of the price upward indicates a clear lack of the role of the Iraqi Central Bank in the market control," pointing out that "the subject is due to the orientation of the state towards austerity and adjust Srvyatea but should This austerity to ICON and settings on the basis of the safety of the national economy as the high dollar exchange rate will mean a decline in the value of the Iraqi dinar. "

He added that "the decline of the Iraqi dinar exchange rate means a decline evident in the value of staff sliced salaries and wages of employees and wage earners, which is extra pressure pays the price citizen with income limited, "stressing that" the dollar will remain in the swing price unless the central bank is due to exercise its role in pumping the amount of currency to the dollar needed by the market, even if this pumping of currency located at the Central Bank reserves to ensure market balance and therefore the safety of the national economy. "

said the bank's governor Central on the Keywords (June 18, 2015) that "the decision to cancel 8% of customs and excise tax imposed on the purchase of the dollar will contribute to lower the exchange rate over the next week, and will contribute to lower consumer goods prices."

He said the Keywords in his press conference that "the rising exchange rate worth pursuing and patch because what happened in the last days of the rapid rise of the exchange rate is to lock in profits and also involves other targets do not go into detail because they were not natural, where led by one day to rise a hundred degrees and these factors and unnatural causes led to this rise; but the question here Is withstand such attempts Will change the exchange rate we say here that the practical realities can not be compatible with such attempts. "

He noted that "the exchange rate may have affected spending consumer and pumping money into the market and a weak government spending, stressing that there is coordination between the financial and the World Bank with a high degree on a daily basis A consultation in things that avoid the impact on the exchange rate. "

He said, "Statistics shock that I got to the high exchange rate causes us to look for why demand for the dollar has grown, and we believe that this happened to several factors, including increasing the volume of imports and the migration of money to other countries and we stand with This phenomenon nationally and how to achieve stability and bring money and keeping it at home and bring in foreign investments and the entry of foreign currency into the country. "

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