Iraqi Central Bank Governor stressed the relationship to stop selling through window selling currencies in the Bank would lead to the collapse of the Iraqi dinar and the financial situation in Iraq generally.
Alak said in a statement on the sidelines of the annual Conference of the Arabic Bank Union held in Beirut that the Central Bank is obliged to do the job, and if I refrain from this role because the financial situation collapsed across Iraq. "
"The Bank Governor said selling window loaghlkna to become per dollar exchange rate between three and four thousand dinars, and maybe more.
The Governor noted that "If you have to cancel your current currency window printing trillions of aldnaneralarakih annually to cover local demand for the dinar, which will lead to Iraqi anhiaralamlh due to inflation, or excessive cash."
Asked about prospects for Iraqi dinar to float, like other countries in the region, said the relationship "this command is not applicable in the current situation, we are not currency float, and the big difference between the two.
He denied the relationship having its auction at the Central Bank, but foreign currency sale window confirming that the intermediary between the Finance Ministry and Central among the public.
He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.
SOURCE
Alak said in a statement on the sidelines of the annual Conference of the Arabic Bank Union held in Beirut that the Central Bank is obliged to do the job, and if I refrain from this role because the financial situation collapsed across Iraq. "
"The Bank Governor said selling window loaghlkna to become per dollar exchange rate between three and four thousand dinars, and maybe more.
The Governor noted that "If you have to cancel your current currency window printing trillions of aldnaneralarakih annually to cover local demand for the dinar, which will lead to Iraqi anhiaralamlh due to inflation, or excessive cash."
Asked about prospects for Iraqi dinar to float, like other countries in the region, said the relationship "this command is not applicable in the current situation, we are not currency float, and the big difference between the two.
He denied the relationship having its auction at the Central Bank, but foreign currency sale window confirming that the intermediary between the Finance Ministry and Central among the public.
He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.
SOURCE