Central Bank refuses to reduce the exchange rate distribution of salaries in dollars


Union: the central bank announced on Sunday rejected a proposal for the distribution of employees' salaries in dollars, adding that he can not be a substitute for the dollar is the national currency, stressing his opposition to lowering the exchange rate.
The governor of the bank on the Keywords in an interview with a number of media that "the Central Bank rejects the proposal, which was submitted on the employees' salaries in dollars distribution," noting that "the Iraqi currency is a sovereign and can not be that the dollar be a substitute for the national currency," he added Keywords, that "the distribution of salaries Aahakq dollar for anything positive, "pointing out that" tend to disrupt the process of distribution. "
It is said that a number of members of the House of Representatives earlier filed a proposal to the government and invited her to the distribution of employees' salaries in US dollars rather than the Iraqi dinar.
And he said: "The project to delete the zeros from the currency still exists, but the administrative conditions are not favorable for its implementation so far." He added Keywords, that "issuance of 50 thousand dinars came to structuring currency, the fact that the 25 A category is no longer suitable for trading compared to the monetary mass in circulation," explaining that "The new category will facilitate the transport and conversion process by banks and citizens," stressed the Keywords, that "50 thousand dinars category do not affect the inflation and rising prices, because issuance is damaged versus currencies".
The Central Bank of Iraq announced on Sunday (November 15, 2015), that the issuance of 50 thousand dinars category paves the way for the deletion of zeros from the currency, and among it will reduce the demand for the dollar, he noted that the new currency not related to the financial crisis.
Governor of the Central Bank also revealed that "the Rafidain and Rasheed Asthoman 80% of banking sector assets in Iraq," adding that "an anomaly" and pointed out that "these two banks are suffering from many problems," he said, "we head into the privatization of two banks or participating with the private sector, and we are working on it in coordination with the World Bank after the Council of Ministers agreed to this proposal. "
Governor of the Central Bank on the Keywords also said that "the Bank is opposed to calls for lowering the exchange rate for the reforms," ​​noting that "the reduction will lead to higher prices and hurt the poor, and this is what happened in Egypt, for example," he added Keywords that "bank reserves is not a surplus," noting that "the rise and decline does not affect the government or the budget, but only affects the Ministry of Finance reserves".
This announced the Governor of the Central Bank on the Keywords that "Iraq has a reserve within the international standards", noting that "we still cover the Iraqi dinar 1.7 of currency in circulation by value of 39 trillion dinars," he added Keywords, that "the reserve is able to cover imports in the country in 6 months "noting that" the natural decline in the reserve process which is psychological more than what is worrying "and continued relationships, that" up Aatgm by the central bank but controls the supply factors of the Ministry of Finance and the demand of the market, "adding that he" so the central bank to maintain Market response to the request and fill the balance of payments, because it enters in to maintain a balance. "
The member of the parliamentary finance committee said Hossam punitive, in November 2015, the central bank said 17 located an estimated $ 50 billion in reserves, considering that the relatively low occurrence of few in the reserve is normal.