Criticism of the central bank due to the dollar exchange rate

by **Ponee** Fri Nov 04, 2016 11:36 am

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Politician Number of Views: 5 11/02/2016 12:25

National Center Brief / NNC - mention of the economic and investment commission member of the parliamentary proof Mamouri, that the monetary policy pursued by the Central Bank of Iraq that led to a huge waste of the financial reserves of the bank, indicating the existence of information suggesting that the reserve current central bank up to $ 40 billion, or lower after hitting $ 78 billion in 2013.

Said Mamouri in a press statement on Wednesday, the central bank's policy of selling the currency led to a "huge waste in the financial reserves of the bank after the dollar in the local market price reached more than 1,300 dinars to the dollar, while the official selling price does not exceed 1200 dinars to the dollar. "

He said Mamouri, he was supposed to be there, "an increase in the reserve ratio of foreign currency at the central bank as shall receive a percentage of profits to sell the currency, but we see the opposite," as the bank called for a "new policy to sell the currency through the open window for sale direct to citizens and the rates prevailing in the market and achieve the benefit for the general budget of the state. "

He Mamouri that "he will be hosting the central bank governor and directors of state banks in the coming days for clarification about the causes of decline of dollar reserves and a strong dollar.

The parliamentary finance committee has visited the central bank last Sunday for his work, and met with the Governor of the bank and general managers.

The Iraqi general budget for the years 2015 and 2016 a large deficit, due to lower global oil prices as well as the war effort against al Daesh.

The local markets in recent weeks have seen a remarkable rise in the dollar's exchange rate against the dinar as the price of $ 100 reached about 130 thousand dinars
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by **Terbo56** Fri Nov 04, 2016 11:46 am

These people are stupid through and through, and fail to realize, IF they get RID of the u.s. fiat dollar for good, their currency will increase in value, but nobody can explain things to a basket of turnip, correct? These people are tripping over their own stupidity and ignorance for crissake-They need to learn to walk, long before they are able to kick camel cookies........

Criticism of the central bank due to the dollar exchange rate

Criticism of the central bank due to the dollar exchange rate

Re: Criticism of the central bank due to the dollar exchange rate