Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

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

Enter your email address:

Iraq's Minister of Finance supports floating exchange rate DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Iraq's Minister of Finance supports floating exchange rate

Go down

Iraq's Minister of Finance supports floating exchange rate Empty Iraq's Minister of Finance supports floating exchange rate

Post by RamblerNash Thu Aug 26, 2021 10:21 pm

Iraq's Minister of Finance supports floating exchange rate 1630000802779
2021-08-26 11:01

Shafaq News/ Iraq's Minister of Finance, Ali Abdul Amir Allawi, said on Thursday that he supports adopting the floating exchange rate policy in Iraq.

"The Iraqi currency is fluctuating, but the Central Bank intervenes from time to time to keep it in the range of plus or minus 5%," Allawi said in a press conference on Thursday.

"The exchange rate is not sacred as it was before. Fixing the rate leads to the accumulation of economic problems and explosion later."

"The Central bank's policy is to maintain this rate and keep the gap between the official price and the market at a tolerable range," he noted, "fixing the exchange rate is vital except in the case of economic indicators that push you towards change."

A floating currency is a monetary system that is not backed by gold or assets and tends to fluctuate in value due to supply and market expectations. Its value is also determined by global demand and the level of foreign reserves.

https://shafaq.com/en/Economy/Iraq-s-Minister-of-Finance-supports-floating-exchange-rate
RamblerNash
RamblerNash
GURU HUNTER
GURU HUNTER

Posts : 21983
Join date : 2015-02-19

View user profile

Back to top Go down

Back to top


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