CBI – Dinar Exchange Rate: Cabinet Secretariat discussed with the governor of the central bank to maintain the dinar exchange rate
Baghdad – Hosted by the General Secretariat of the Council of Ministers Council of Central Bank Governor Ali Mohsen Ismail, to discuss the mechanics of the general budget disbursement after approval by the House of Representatives.
He said the statement of the General Secretariat of the Council of Ministers had seen him for News Agency (et) that during the meeting, which was chaired by the Secretary General of the Council of Ministers offer extensive details of the budget materials and maintain the Iraqi dinar exchange rate.
The meeting also discussed the importance of uncles smart card in the trading and banking business dealings, and educate citizens use to reduce the procedures.
The department offered citizens about the affairs of its first indicators that the government monitored e-citizen program and the number of users and government agencies that responded to the program.
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Parliament holds “” budget responsibility rising dollar and banker errors confirms: dollar exchange rate stood at 1,260 dinars
Petrodollars cause big problems between the government and the oil-producing provinces
Baghdad – Counting a member of the Economic Commission parliamentary, on Monday, that the current high price of the dollar against the dinar, “temporary,” although it did not happen under even worse than that the country is undergoing political and security conditions, criticizing the financial budget law for the contents of paragraphs “is sound and other raises questions, “while banker attributed this rise to the central bank to reduce its sales for the half of it, and citizens rush to buy it.
Long-Presse correspondents in Baghdad and the provinces noted that the price of the dollar against the Iraqi dinar rose again on Monday, from 1250 to 1260 Iraqi dinars.
The MP said Ali al-Maliki, in an interview to the (long-Presse), “The rise experienced by the dollar in the local market did not happen for a long time and under much worse than those that are currently taking place in the country’s political and security situation,” noting that “it was expected to be dollar exchange rate will be reduced to approximately 200 thousand dinars, only instead of rising. “
And saw a member of the parliamentary Economic Committee, that “some of the paragraphs of the general budget for the current 2015, a source of wonder, and other improper and ambiguous,” expected to “return the dinar exchange rate against the dollar to normal after a month from now.”
For his part, attributed the banking office that the cause of increasing the dollar’s exchange rate against the dollar is the decisions chest Iraqi Central Bank to reduce the quantities sold of the dollar.
The owner of the office, Ali Saad, said in an interview to the (long-Presse), “The dollar exchange rate began to rise suddenly even now 1,260 dinars, after it was up to 1230 just a week ago,” attributing it to “minimize the Central Bank of the daily quantities of the dollar, which sold in the auction to nearly half.
Saad said, that “a lot of banking offices merely to buy the dollar and sell it for fear of not rise more in the coming days,” noting that “a lot of people have started queuing up to buy the dollar will lead to a height of more against the dinar in the coming days.”
The dollar rose in the coming days to gradually up to 1,260 dinars, the highest rate in years.
The Iraqi Central Bank to sell dollars to banks at a price of 1166 dinars to take is to sell to dealers.
It is noteworthy that the current year’s budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of goods and data documents settling accounts and tax savings Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the central bank law or instructions issued by him, and the use of other banking tools to maintain the strength of the dinar against the dollar.
The Central Bank of Iraq, announced on Sunday, (the first of February, the current 2015), take five resolutions for “support” the development of the Iraqi economy, stressing his agreement to cover bank accounts abroad to “US dollar” to cover imports, while the importance of ” accelerate “legislation Deposit Insurance Act, hailed the formation of a committee to reconsider the structure of interest among its” approval of the Central Bank to cover the bank accounts abroad in US dollars to cover imports of customers and for other purposes without having to go through the window of the currency sale at the Central Bank of Iraq. “
The Iraqi Central Bank announced last week, to take the necessary measures to boost liquidity in the banking system, and decided to facilitate the procedures for the sale of foreign currency “to sustain the exchange rate.”
The Central Bank of Iraq, had announced in (the 18th of January 2015), that the financial reserves of Iraq is equivalent to one and half times the weakness of the currency bloc, returned it the “best rates” in the countries of the world, as he emphasized that Iraqi financial institutions are “unable” to cover The fiscal deficit, he stressed the need to reconsider the structure of the budget and spending and diversify sources of income and achieve investment more broadly to address the decline in oil prices.
The Iraqi Council of Representatives passed last Thursday (29th of January the past), the financial budget for the current 2015, an amount of 119 trillion dinars, the equivalent of $ 117 billion, and a deficit of about 25 trillion dinars, or about 23 billion dollars, and calculates the price a barrel of oil at $ 56 a barrel, while the President of the Council stressed, Saleem al-Jubouri, it is the first time that the adoption of the budget is during the first month of the year, returned to the “achievement” is calculated to parliament.
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Dinar fall against the dollar after the central bank’s actions and recommendations budget
2.2.2015
Dinar fall against the dollar after the central bank’s actions and recommendations budget
Baghdad – Economic Commission attributed the Iraqi Council of Representatives, on Monday, rising dollar exchange rate of the dinar in the Iraqi market to the decisions taken by the Central Bank during the past few days to support the economic development that, while likely economist return of the dollar to normal rates through a simple period, attributing the reason for the rise to “rush” banking offices to buy the dollar, as well as reducing the quantities sold by the central bank as recommended by the general budget.
He noted the long-Presse correspondents in Baghdad and the provinces that the dollar exchange rate against the Iraqi dinar rose againon Monday, from 1250 to 1260 Iraqi dinars.
She said a member of the Economic Committee Najiba Najib in an interview with the (long-Presse), “The Central Bank has taken new measures that would provide cash to cover the shortfall in the budget in light of falling oil prices to below $ 50,” noting that in light of the lack of financial revenue was on the state to take a range of actions to provide the largest possible number of the currency bloc to consolidate the increased revenue size.
Najib has ruled that “these measures are working to reduce the value of the Iraqi dinar or cancel support him,” indicating that “the bank will maintain the exchange rate and the price of the dollar against the dinar will rise from what it is now.”
For his part, economist said on behalf of Antoine “The budget amounts identified by The Central Bank sold the currency to $ 75 million,” noting that there Thavta by banking offices to buy the dollar for fear of re-evaluation of the dollar and raise the price.
Antoine and ruled that “the Iraqi Central Bank to take any decision or action to reduce the rise in the dollar’s exchange rate against the Iraqi dinar in the markets.”
He favored the economic expert “does not continue to rise in the dollar’s exchange rate against the Iraqi dinar according to the current price, but it declined gradually returning to normal after a few days,” asserting that “the central bank has large amounts of dollar is continuing sell and will not stop.”
Antoine promised to “cut the central bank to sell the dollar is only natural, especially with reducing the amount of the general budget of $ 150 billion to $ 100 billion,” following up “can not pump the same amount of dollar with the budget cuts the fact that this will lead to a surplus of currency smuggling.” .
The Iraqi markets witnessed a rise in the US dollar exchange rate against the dollar since the Iraqi dinar exchange rate was one in 1250 dinars on Sunday, and came just days after the rise to approve the general budget for 2015 (January 29, 2015)
Paragraph 50 of the Federal Assembly of the Budget Law 2015 provides that “the central bank is committed to identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million dinars a day with exercise justice in the sales process, and calls for participating in the auction the bank providing the introduction of cargo documents Data and settling accounts and tax savings Alkmarki within 30 days from the date of purchase of the amount and otherwise apply to the bank penalties stipulated in the central bank law or instructions issued by him, and the use of other banking tools to maintain strength of the dinar against the dollar.
The Central Bank of Iraq announced on Sunday(February 1, 2015) to take five resolutions for “support” the development of the Iraqi economy, and confirmed his agreement to cover bank accounts abroad to “US dollar” to cover imports, and as he emphasized the importance of “accelerating” legislation Deposit Insurance Act , praised the formation of a committee to reconsider the benefits of the restructuring of its “approval of the Central Bank to cover the bank accounts abroad in US dollars to cover imports of customers and for other purposes without the need to pass a window sell the currency at the Central Bank of Iraq.”
The Iraqi Central Bank announced last week, to take the necessary measures to boost liquidity in the banking system, while decided to facilitate the procedures for the sale of foreign currency “to sustain the exchange rate.”
The Central Bank of Iraq, had announced in (18/01/2015), that the financial reserves of Iraq equivalent and a half times the weakness of the money supply, they returned it was “best rates” in the countries of the world, as he emphasized that Iraqi financial institutions are “unable” to cover The fiscal deficit, he stressed the need to reconsider the structure of the budget and spending and diversify sources of income and achieve investment more broadly to address the decline in oil prices.
