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Gold the best guarantee for the stability of exchange rates

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Gold the best guarantee for the stability of exchange rates Empty Gold the best guarantee for the stability of exchange rates

Post by Ponee Wed Mar 26, 2014 8:58 am

Two: Gold the best guarantee for the stability of exchange rates
03/26/2014



Gold the best guarantee for the stability of exchange rates 3497175
BAGHDAD - Mustafa al-Hashemi
Confirmed two economists that the application of monetary policy tools of the central bank in an active manner that would enhance the value of the currency and maintain the stability of exchange rates against foreign currencies, considering a central strengthening reserves monetary gold that is in line with the current stage to strengthen Iraq's economy.



Was the central bank has announced that the amount of gold purchased during the month of March, about 36 tons of high purity is very applicable to international standards adopted, comes as part of the strategy pursued by the Bank in the management of reserves of foreign to achieve racial safety and safety through the use of monetary policy tools to stabilize the exchange rate of the dinar against foreign currencies. was central may decided earlier SEC assortment of pure gold bullion weights ranging between (5 g and 1 kg). He announced, at the time, the direct actions contracted to import them and then sell them through the banking system, as this procedure represents a monetary policy tools. Economist said the appearance of Dr. Mohammed Saleh, said that the citizen trusts absolutely transactions of government means that he trusts the precious metal which items imported Central as guaranteed and standard specifications in addition to it's international origins is what makes gold imported from the Central is much better than that items imported gold traders. pointed out that the measure would double the opportunities to increase credit (loans granted by banks to citizens) the adoption of gold coins as collateral good loan repayment terms will reflect so positively to improve their reality of living and the national economy in general.

For his part adviser said the Iraqi Institute for Economic Reform, Dr. Ahmed al-Husseini that the application of monetary policy tools to effectively reduce the dollarization of the economy. Pointing out that there is another instrument of monetary policy pursued by the central bank is setting up a basket of foreign currencies and reduce dependence on the dollar because the country is suffering from dollarization of the economy. added Husseini told (the morning): the basket as possible to contain the currency more stable than the dollar Kganah sterling or the euro or the yen and the Swiss franc and other currencies of the world economies strong to strengthen the cash reserve currencies variety, along with gold and the dollar. explained The adoption of a basket of currencies prevent Iraq from fluctuations in world oil prices and work to prevent Kmusdh financial impact of these fluctuations on cash reserve generated from oil sales.
http://goo.gl/GaTdZW
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Gold the best guarantee for the stability of exchange rates Empty Re: Gold the best guarantee for the stability of exchange rates

Post by Jayzze Wed Mar 26, 2014 9:49 am

this is one of the few things  that will build stability and the imf also agrees with this. they will be buying more gold soon
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Post by Kevind53 Wed Mar 26, 2014 10:05 am

Actually the IMF has been selling limited amounts of gold (8%) to underwrite lending to low income countries.

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Gold the best guarantee for the stability of exchange rates Empty Re: Gold the best guarantee for the stability of exchange rates

Post by Jayzze Wed Mar 26, 2014 10:16 am

while gold willl help them attain stability iraq will never  have real stability as long as m and his band of merryman are in power. if you read the imf and wto reports they are very close and both state while iraq has improved they have a long way to go eventhough they have had people nd meetings to show them the path they refuse to do as told. typical arab mind set and if they do not change they willk be king of the desert sand instead of the world
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