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Financial representative: on the Central Bank on monetary policy open - Article supports a Float

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Post by Ponee Wed Aug 21, 2013 6:16 am

 KAPERONI SAYS - Here is a great article again today that supports that the CBI is going to float the dinar. They are transitioning to "open monetary policy" or better known as "open market."

Here is the article..and subsequent IMF explanation of how this transition works and what is involved. This leaves little doubt that the dinar will rise gradually.

---------------------

Financial representative: on the Central Bank on monetary policy open
|On 2013-08-20 | Writer Anthony David

Baghdad/Hamad Daham
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://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alestiqama.com%2Fnews.php%3Fcat%3Dbusiness%26id%3D2816


So what does this mean? Here it is direct from the IMF...

http://www.imf.org/external/pubs/ft/issues5/


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