Governor of the Central Bank: the weakening of the dinar attempts failed and seven facts constitute a shield for our currency

Friday June 19, 2015 13:43


Alsumaria News / Baghdad
Said Governor of the Central Bank of Iraq, said Friday that attempts to weaken the dinar FD failed and failing will develop at any time, and confirmed the existence of seven facts constitute fortified shield the local currency.

He said on the Keywords in a statement received Alsumaria News , a copy of it, that "the facts of the past few days has shown that attempts to weaken the dinar and attempts speculators fool hard facts have been unsuccessful and will develop to fail at any time," stressing that "there are seven facts constitute a shield fortified local to our currency."

Keywords explained that these facts is that the "foreign currency reserves is twice the size of the Iraqi dinar in the market, providing a cover to respond to any request," adding at the same time to "Access inflation to less than 2%."

Keywords He added that the third truth is "progressive increase in oil production and prices," pointing at the same time to "low consumer government spending dramatically."

And the Governor of the Central Bank that "the indicators and the facts confirm the defeat of terrorism in the near future," adding "almost daily coordination between monetary and fiscal policy for the first time."

Keywords and pointed to the fact that the seventh is "no direct support from the International Monetary Fund and the World Bank and the Islamic Development Bank to overcome the oil price shock."

The prime minister Haider al-Abadi stressed, on Thursday (June 18, 2015), the need to maintain the dinar exchange rate against the dollar in the domestic market and the prosecution of any disorder not accompanied by objective factors conditions.

And it agreed the crisis cell, headed by the Prime Minister on the proposal to delete the central bank rate of 8%, which represents income tax and customs added cash remittances.

He said Governor of the Central Bank, on Thursday, that the decision to cancel the duties and taxes will reduce the dollar exchange rate significantly, confirming the approval of the crisis cell on the Bank's proposal to delete the custom duty and tax on the purchase of the dollar.


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Central Bank confirms the local currency immunity seven points


Author: Publisher on: June 19, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - The governor of the Central Bank on the Keywords, the failure of all attempts aimed at weakening the local currency over the past few days, indicating the presence of seven Facts represents the armor of the Iraqi dinar.

He explained Keywords for (IMN) "proved the facts of the past few days that attempts to weaken the dinar speculators and attempts to fool hard facts failed to failure and will develop at any time when trying to target the local currency."

He added that "there are facts constitute a shield fortified local Mammeltna represented reserves of foreign currency, which is twice the size of the Iraqi dinar in the market, providing cover to respond to any request, and the arrival of inflation to less than 2%, and increase the upside in production and oil prices, low consumer government spending is large, indicators and facts which confirm the defeat of terrorism in the near future. "

He continued that "almost daily coordination between monetary and fiscal policy for the first time, as well as the existence of direct support from the International Monetary Fund and the World Bank and the Islamic Development Bank."

He said the prime minister for economic affairs adviser appearance of Mohammed Saleh on Thursday, said that the decision to cancel 8% for income tax and customs will strengthen the dinar exchange rate against the dollar.

According to the Central Bank of Iraq, Thursday, that the dollar cut into dinars in 1317 after a series of measures taken by the Central Bank of Iraq to meet the banking needs of hard currency.

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