Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."


Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

The central bank reveals its dollar reserves and commented on the 2020 deficit DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Buy and Sell

The central bank reveals its dollar reserves and commented on the 2020 deficit

Go down

The central bank reveals its dollar reserves and commented on the 2020 deficit Empty The central bank reveals its dollar reserves and commented on the 2020 deficit

Post by RamblerNash on Tue Sep 17, 2019 10:10 pm

The central bank reveals its dollar reserves and commented on the 2020 deficit

The central bank reveals its dollar reserves and commented on the 2020 deficit Story_img_5d8076280fc8b

2019/17 8:59

(Baghdad: Euphrates News) The Governor of the Central Bank of Iraq {agency} Ali Alak that the Central Bank reserves of foreign currency comfortable and good but exceeds international standards.

Al-Allaq said in a press statement that "the law prohibits the use of this reserve to lend to the government in order to fill the budget deficit, but it is used to stabilize the exchange rate of the local currency and its strength."

He pointed out that "the amount of the budget deficit for 2020 is not yet established as indicated by the Ministry of Finance, and that what is being circulated is just hypothetical figures and not yet settled, indicating that the upper limit of the deficit must be consistent with the new financial management law." .

He stressed that "our reserves of foreign currency are comfortable and good and within international standards; but exceed the normative ratios, but according to the law is not to cover the deficit, but is a cover for the local currency, and the strength of the exchange rate and the strength of the Iraqi dinar depend on this cover, so the linkage between the reserve and cover the deficit The Central Bank law does not allow the reserve to be used to lend directly or indirectly to the government, but to preserve the value of the dinar against the dollar. "

And the relationship, that "the stability of the exchange rate is a fundamental objective of the Central Bank and seeks to achieve by all means, and it depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger, and our economy is subject to fluctuations that collect The basis for the country, which is also the basis for foreign currency. "

Between the relationship, that the stability of the exchange rate is a central objective of the Central Bank and seeks to achieve by all means, and it depends mainly on the economic performance of Iraq, the stronger the economy was to maintain the exchange rate stronger and get the economy, which depends on the prices Precisely managing a reserve to achieve stability is important, as there can be a balance between the supply and demand of a foreign currency, and when supply disrupts The exchange rate, and the reserves we have so far, are able to cover the demand for the dollar and thus keep the price under control. ”

https://alforatnews.com/modules/news/article.php?storyid=211677
RamblerNash
RamblerNash
GURU HUNTER
GURU HUNTER

Posts : 16868
Join date : 2015-02-19

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum