The stability of the dinar exchange shares in maintaining the prices of goods

7/14/2014 0:00

Citizens praised the actions the government and the Central Bank
BAGHDAD - Farah pumice

Resulted in efforts by the government, represented by the competent bodies for the stability of the exchange rate of the Iraqi dinar, despite attempts by gangs "Daash" terrorist influence it through the theft of millions of dollars and dinars from the provinces of Mosul and Salahuddin.


He praised the citizens of actions taken by the CBI in this regard, particularly supplied confounded gave substantial financial strength of the Iraqi dinar, which led to keeping the prices in the markets.

The central bank governor Abdel Basset Turki has said recently, that the strength of the Iraqi dinar and the precautions that support has not been affected despite the recent situation in Iraq, noting that "cash reserves in support of the Iraqi dinar is 70 billion dollars, and that the central bank is able to support the exchange rate of the dinar."

The exchange rate of the dinar in 1220 dinars banking offices in the official exchange rate of 1166 dinars and the price is stable, as the increase up to 2 percent represents an acceptable price and stable, according to financial expert, the appearance of Dr. Mohammed Saleh.
 
He says the benefit of the "morning": "Built monetary policy for Iraq since 2004 on a system called (School currency), which is that the Iraqi dinar is fully covered in foreign currency with wide latitude for conversion is the main guarantee for the stability of the dinar."

He said the conversion is not intersect with the legal fight against money laundering, and money crime and terrorism, so the citizen is free to the conversion process.

 Added expert said: "the Iraqi dinar financial reserves represent state revenues from oil, the reserves associated with imports of oil in an integrated manner."

He said that the Iraqi dinar itself hard currency for the absence of other mechanisms for ordering associated with the reserves of foreign, especially that he (Iraqi dinar) issued a liability interview assets of Foreign Exchange, as well as that of the oil sector is the leverage of its value.

 Salih noted that the continuity of the oil activity, regardless of for instability between the center and the province, which does not affect the largest percentage of Iraq's exports, estimated at 80 percent of the SOC, as linked to the central bank reserves revenues of the government's foreign exchange by converting it to the dinar, as well as freedom of foreign exchange, especially since he has over the past year were converted Mali includes remittances and foreign currency cash and credits worth some 52 billion dollars, while the current year, the indications point to the extent of 50 billion dollars, so the supply of cheap goods and the freedom of Iraq has made the conversion Almacheram prices stable.

According to financial expert, the Oil Ministry announced recently that the level of export Boat 2.9 million barrels of oil south only, and this fits with the goal of balancing the year 2014 is approved, believing that the economies of southern Iraq is the main player in the value of the Iraqi dinar.


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