Central Bank: Auction currency sterilize the monetary mass massive

Banks

Economy News / Baghdad ...

The head of the financial operations of the Central Bank of Iraq d. Mahmoud Mohammed, said the dollar selling window has two sides is the first technical Sterilize monetary mass swap where the dollar amounts of dinars resulting from the massive spending budget and debt.

Mohammed said in a press statement, that not to withdraw this amount from the markets, causing a massive rise in prices, and this is the window under the monetary sterilization low financial level of the overall economy.

He noted that the absence leads to a significant deterioration of the economy for my country from the technical side we did not find a viable alternative to give the dollar a window for sale.

He explained that the other side is the price difference and this is being focused on, indicating that the recent measures that began in February of this year, the results can facilitate and reduced exchange rates at the borders of the central targets commensurate access to a stable and constant prices.

He noted that the political and security risks in Iraq, causing instability, which leads to higher demand for the dollar and convert real existing to the dollar, indicating that the central bank continues to develop the electronic ones his tools in order to keep its goals as well as maintaining the Mtsuiat price is acceptable.

He said the window under the current circumstances, there is no alternative to it, indicating that the problem we face is not borne by the window exclusively, but its border ports responsibilities important in this aspect, stressing that set the ports and match the amounts and the type of material with what goes to Iraq, leading to the end of the problems when you give ports declaratory entry in agreement with what the trader provided here can eliminate the problems.


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