Effect: the government abolished the functions and duties of the Central Bank monetar
Effect: the government abolished the functions and duties of the Central Bank monetary policy by linking the
On: Sun 08/04/2012 20:50
The continuing decline of the Iraqi dinar against the dollar
Baghdad - Citizen
MP on the mass of the citizen Faleh in force for a book issued by the Secretariat of the Council of Ministers on March 15 addressed to the Iraqi Central Bank Governor implies that monetary policy functions of government exclusively.
and see the dinar Iraq, a new low against the U.S. dollar up in local markets to 126.5 thousand dinars for the paper category percent dollars, which will lead to the loss of citizen confidence in Iraqi dinars, which was on the rise against the dollar over the past years.
and said in effect told the Euphrates News that «this book as a cancellation of the functions and duties of the Central Bank of Decree Under the Constitution », pointing out that« the Central Bank is an independent body responsible for formulating monetary policy ».
He explained that «This book is a blatant interference in the Bank's policy», pointing out that «if the adoption of this mechanism will add this failure of the policies adopted either in the provision of services or in government policy in reducing poverty or security policy ».
He stressed that «the government if it continued to intervene to monetary policy, it means that the Iraqi economy is in danger and will be the confidence of international institutions and the confidence of other countries invested in Iraq's shaky and non-solid, as the government became intervene in all things and there is no separation of powers does not exist independent bodies ».
The Economic Commission in parliament, had hosted the central bank governor, who promised to turn control of the Iraqi dinar exchange rate and to return to the previous $ 120 thousand dinars of the paper per class hundred dollars.
at a time Male traders and shop owners banking that «the Iraqi dinar is witnessing a clear decline and this will lead to the loss of citizen confidence in Iraqi dinars, which was on the rise against the dollar over the past years». They added that the depreciation of the Iraqi dinar against the U.S. dollar continuing and increasing daily as the decline began, no one / tiger one / to witness after the deterioration of its price.
expressed shop owners banking fear of great loss that may Atqaibdoha as well as the citizen as a result of this continued decline in the price of the dinar.
He pointed Nasser Al-shop owner banking that: the decline in the price of the dinar concern to us, we do not know whether the central bank will control the decline or that it will continue.
He added that the central bank policy is clear and does not know the extent of pumping, which can be controlled on the exchange rate in the market.
As he says Mohammad Karim shop owner banking that there are problematic began to appear in the decline in the price of the dinar as the majority of citizens have the debt and some want the amount the rate constant, which called on the dollar, while he wants the other party payments in Iraqi dinars.
He pointed out that this will lead to some problems that in turn affect the work of the owners of banking as the movement currently on the market between the ebb and flow.
criticized the citizen Jassim Alwan, the central bank not to control the market price loaded with blocks of political responsibility because of the differences between them and that led to the high price of the dollar.
He added that the Iraqi dinar began to lose its value and this would negatively affect the employee and the average citizen because of the material will increase their prices because the import is in dollars and this in turn would lead to a lower standard of living of citizens.
and demanded the government move quickly to save the situation because the paper category hundred dollars arrived in price to 127 thousand dinars after it was 120 thousand to 119 thousand and the price at which and its relevance has not received in years.