Deputy for the citizen: government interference in the work of the central bank behind his fluctuating attitudes in monetary policy

Thursday, May 23 / May 2013 06:40



[Baghdad where]

He attributed the MP from the bloc, Mohammed Allkash confusion made ​​in the monetary policy to clear government intervention in the work of the central bank.

Said Allkash told all of Iraq [where], a copy of it, "The high price of the dollar and the decline of the Iraqi dinar caused confusion monetary policy and government intervention in the work of the Central Bank of Iraq."

The central bank has promised to take measures to raise and stabilize the dinar as it was in the past, but the degradation rate of the dinar continued.

Employees complain And retirees who receive their salaries in dinars from price rises, and that their salaries are no longer sufficient to meet their needs and that the rise in prices has included real estate and rentals, as well as transportation, food and clothing.

Many believe that the growing appetite to buy the dollar has led to this significant decline in the price of the dinar. And attribute this to smuggle most of it will offer daily Central Bank of dollars to Syria and Iran, which are being siege of Mali in the growing and they need to hard currency.

The Iraqi Central Bank announced shortly before the new procedures limit the availability of the U.S. currency in markets where demand to buy them, amid suspicions suggest the smuggling of large amounts of hard currency in Iraq for neighboring countries.

And issued the CBI, new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar is estimated according to the capital of each of them, and we will increase and decrease the stake against the commitment of all of them deliver the amounts they want customers citizens.

And goes observers exchange market in Iraq to the smuggling of large quantities of dollar located in Iraq for Syria and Iran, both of which suffered international sanctions caused scarcity of hard currency, and it has one of the most important reasons for the increase demand for the dollar in Iraq, and therefore decline Iraqi dinar exchange rate.

The central bank starts to put the dollar at an auction for the sale of foreign currency at subsidized prices and the lowest of the real exchange rate in the market to support the dinar. "

Observers fear Stop CBI those auctions and then Will double the value of the dollar against the dinar. "

The central bank is facing charges for the staff in conjunction with state officials Baalmyat corruption and smuggling of currency and the bank is currently undergoing to Thviqat the longer the former director Sinan al-Shabibi, who left Iraq several months ago and no longer fear of arrest according to the warrant. Ended


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