Central: We are responsible for the financial and currency auction unprepared for the exercise of this role

Tuesday February 16, 2016 10:05

Alsumaria News / Baghdad,

said the Iraqi Central Bank, on Tuesday, he was in charge of holding the currency auction, between the Ministry of Finance is ready to exercise that role. The governor of the bank on the Keywords in an interview with Alsumaria's News, "The central bank is responsible for conducting the auction currency under the law, which he considers responsible for the stability of the exchange rate, "noting that" it is theoretically possible that the Ministry of Finance to conduct an auction currency, but in practical terms is not possible. "

He Keywords that "the Ministry of Finance is not interested in achieving the goals of monetary policy Castaqrar exchange, but is interested in obtaining as much as possible from the dinar from the sale of dollars without paying attention to the overall stability of prices or the exchange rate stability," explaining that "this process by type of risk can not the Ministry of Finance unsustainable.

" He continued," the Ministry of Finance has historically not accustomed to exercise such a process so that the balance between sales of the dollar and the stabilization of the exchange rate, "stressing that" the central bank has the mechanisms and tools and his outlook and the rules of his work and his ability to control the this process. " Central Bank of Iraq and founded an independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions a day for buying and selling currencies.