Mayahi: The Central Bank can make the dollar equivalent to 1000 dinars to the requirement to change its current policy

26-05-2012 | (Voice of Iraq) - Add a comment -
Baghdad (news)

According to a member of the Committee of Economy and investment on the mass of the Iraqi deputy White Mayahi Aziz, the central bank's ability to make one dollar is equal to (1000) Iraqi dinars, the requirement to change the current monetary policy, calling it "wrong" and need to re-examine them.

Mayahi said (of the Agency news) on Saturday: The central bank was able to reduce the value of the U.S. dollar against the Iraqi dinar exchange rate and make the equivalent of (1000) dinars, due to the presence of a large financial reserve estimated at more than (62) billion dollars.

He added that the current monetary policy pursued by the Central Bank "wrong" and need to be reconsidered, because the continuation of work out will harm the public money, especially in the recent period when it rose the value of the dollar significantly against the dinar because of the promotion of transactions and fake by speculators led to smuggle large hard currency abroad, laden with the responsibility of the Central Bank.

He pointed out: that the central bank governor has promised to reduce the exchange rate of the dollar against the dinar after (6) months from now to make one U.S. dollar is equivalent to (1000) dinars, when it was hosted by the Economic Commission representative, pointing out that the process is not Balsabh and can be achieved.

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