Central Bank is required to review monetary policy to support the dinar exchange rate

Central Bank is required to review monetary policy to support the dinar exchange rate



As investigations continue, it appears that the devaluation of the dinar is being attributed to mismanagement by the CBI. As long as new currency continues to be printed and sold, the “watered down effect” will be overlooked in a sales driven economy..

6-3-13 Baghdad (newsletter): Download financial expert by the name of Hadi al-Tamimi, the Central Bank is responsible for the decline of the dinar against the dollar in the past period, affirming that the current monetary policy does not support the value of the Iraqi dinar.

He said Al-Tamimi (News Agency): to sum up the oscillation Iraqi dinar exchange rate against the US dollar of current management responsibility to the Central Bank, because of its policy that made the sales dollar monopoly and lifted control over local banks.

He added that the Central Bank is required to review monetary policy and a new policy to pursue the sale of hard currency and the possibility of delivery to eligible traders and owners of capital, taking into account the principle of balancing supply and demand in the market.

He noted: the continuing decline of the value of the Iraqi dinar against the dollar will affect the overall economic situation in the country, laying the foundations for the processed/completed

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Of course, it could not be government policies or corruption could it ....