Governor of the Bank: Auction currency is no longer a daily window and put new mechanisms have

[yota691]

Governor of the Bank: Auction currency is no longer a daily window and put new mechanisms have

 

 

Tuesday 3 March 2015 11:26

 

 

 

 

 

 Alsumaria News / Baghdad 
announced the Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, which "is no longer a daily window," he said, adding that a lot of hard currency being smuggled out of the country as well as for use in the operations of corruption. followed ..

[sandfly]

YEP THANKS

[yota691]

Governor of the Bank: Auction currency is no longer a daily window and put new mechanisms have

 

Awan news agency

03/03/2015 11:30

 

Awan / Baghdad 

The Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, which "is no longer a daily window," he said, adding that a lot of hard currency being smuggled out of the country as well as for use in the operations of corruption.

[yota691]

Keywords: new mechanisms for auction currency

Under section: economic Dated: March 3, 2015

 

 

 Baghdad / Iraq News Network announced the Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, which "is no longer a daily window," he said, adding that a lot of hard currency being smuggled out of the country as well as for use in operations Fassad.wabdy Keywords "surprised at the statements of some officials about the low reserves of hard currency," stressing that "Iraq does not suffer from any decline in hard currency, and has good revenue and there are no worries." While stressing that "the Iraqi dinar is covered at 150% of the hard currency" .otass CBI 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 policies exchange rates being sessions daily for buying and selling currencies.

Central Bank building one independent bodies in accordance with the Iraqi constitution .. Photographed by Mahmoud Raouf

Central Bank denies he stopped selling the dollar confirms: virtual height will not be long
 
Author: ASJ, BS 
Editor: AB, BS 03/03/2015 12:37 Number of Views: 83 

 

 
 

Long-Presse / Baghdad

Denied the Governor of the Central Bank of Iraq on the Keywords, on Tuesday, the rumors about the bank stopped selling the dollar, said new measures for buying and selling the currency to prevent money laundering and maintain on the market, as pointed out that the current rise of the dollar virtual height will not be long, pointed out that bank is considering various laws to support the banking process in Iraq.

The governor of Bank of Iraq on the Keywords during a press conference building the bank in central Baghdad, that "the process and buy the currency has seen over the past ten years a lot of problems and achieved through some weak souls astronomical profits," noting that "some were taken from the sale of window currency cover for operations money laundering. "

And denied the relationship, "talked about the rumors that the central bank has stopped selling the dollar," noting that "the bank select the sales process did not stop them and continues to sell the dollar for the purposes of travel and treatment."

He stressed relationship, that "the Bank studied during the recent period with specialists and experts sale window currency and we have taken a number of measures that would maintain the market and make the central bank specializing in monetary policy operations away from the currency in which they strain the circles auction problems," noting that "the mechanism for Traders on the dollar has become through the deal with private banks. "

He Keywords, that "this process has made us check well of invoices submitted by traders, as well as control of the exit process and enter the dollar," noting that "the rise of the dollar had been expected after the decision to sell the mechanism change a virtual height will not be long." .   

And the relationship, that "the bank is considering various laws to support the banking process in Iraq, including the law of deposit," and expressed hope that "the law provides to the Parliament and the citizens who will pay to put their deposits in their own expenses."

The Central Bank of Iraq, announced in the (February 25, 2015), triggered the application of a new system of remittances and sell the currency, and denied selling the dollar stops.

The Central Bank of Iraq was established independently as a bank under a law issued on the sixth of March 2004 independent Kahyeh, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies being sessions daily for buying and selling currencies.

[gregp]

The spotlight is on the currency. Thanks Yota.

[yota691]

Conscious / Central Bank denies stop auction currency and confirms continuation new mechanism

03/03/2015 01:24 | Number of Views: 24
Font Size:  

 

Conscious / Baghdad / UE

Governor of the Central Bank denied the agency on the Keywords, news about the existence of preventing the process of selling the dollar and to stop work ERA currency, stressing that the Bank continues to sell the dollar did not stop but the new mechanism.

Keywords and said in his transfer reporter permit (news agency, media / INA) during a press conference held by the central bank today, said that "hard currency escaped much supportive of terrorism and corruption countries, stressing that the central bank has taken new measures is no longer a daily window and ATM of hard currency." .

He added, "The Bank of promising new procedures and mechanisms for the auction currency different from the previous daily currency auction, indicating, that the auction currency will not stop, but the work done according to the new measures."

The Keywords during the conference that some officials in the economy had a total far from the banking sector's comments and warned of new central bank measures and confirmed the low foreign currency reserves at the bank, stressing that Iraq does not suffer from any decline and has good revenue and there are no worries. "

He said, that he became able Traders wanting to put a bank deposit in one of the foreign banks in agreement with the internal banks through remittances window, and also for the transport process can citizen access to the dollar through two routes either traveling or treatment, stressing that the central bank does not stand not set limits on Dollar selling. "

The central bank said he was open about the possibility of supporting the Iraqi economy, likely to control the sale of dollar traded through the application of new procedures process. "

On the other hand between the Central Bank that supports private banks through convince the government to put their deposits in government banks is currently studying some of the laws that can support the Iraqi economy. "

He stressed relationship, that "the central bank has a reserve and a half times the mass of cash inside the bank and the possibility of this reserve to control the currency and there is no any concerns of the process of selling the dollar against the dinar."

The Governor of the Central Bank in the face of last week to stop work ERA currency and take a new mechanism for currency exchange and deal with private banks. "

That has raised the ire of the decision where economists stressed that these measures would raise the exchange rate of the US dollar against the Iraqi dinar. "

[yota691]

03/03/2015 12:25


New mechanisms for auction currency in the Central Bank


 

 

 

BAGHDAD / Obelisk: Iraq does not suffer from any decline in hard currency, and has good revenue and there are no worries.

The Governor of the Central Bank of Iraq on the Keywords, on Tuesday, for the development of new mechanisms for the auction currency, which "is no longer a daily window," he said, adding that a lot of hard currency being smuggled out of the country as well as for use in the operations of corruption.

Keywords and expressed "surprise at the statements of some officials about the low reserves of hard currency," stressing that "Iraq does not suffer from any decline in hard currency, and has good revenue and there are no worries."

 While stressing that "the Iraqi dinar is covered at 150% of hard currency."

And established an independent Iraqi Central Bank as a bank under a 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 daily for buying and selling currencies.

[captl1]

Thanks Yota and good morning.

[Saintsfan]

Thank you

[Texstorm]

Thanks Yota ! I really believe that once the military declares victory and liberates all of these cities, Iraq will add value to their currency and declare themselves as a sovereign nation. Timing couldn't be better !

[Butifldrm]

 

Central Bank denies stop auction currency and confirms continuation new mechanism

03/03/2015 02:20 | Number of Views: 173

Font Size:  

 

BAGHDAD / Source News / .. denied the Governor of the Central Bank and the Agency on the Keywords, on Tuesday, preventing the sale of the dollar and the suspension of work by auction currency, stressing that the Bank continues to sell the dollar did not stop but the new mechanism.

 

Alak said during a press conference held by the central bank today in the presence of experts and media, including Agency / Source News /, that "hard currency escaped much supportive of terrorism, and corruption, stressing that the central bank has taken new measures is no longer a daily window and ATM of hard currency."

 

"The bank's head toward the two routes is a window of remittances, where the possibility of traders wishing to develop a bank deposit in one of the foreign banks in agreement with the internal banks through remittances window, and the process of transportation, so can the citizen to obtain the dollar through two routes either traveling or treatment," he said. " The Central Bank does not stand not put limits on the sale of the dollar. "

 

"The Bank has established procedures and mechanisms for a new auction currency different from the daily currency auction former noting that the auction currency will not stop working out, but according to the new measures, where private banks could get a dollar every 15 days by the Central Bank." 

 

He stressed that "Iraq does not suffer from any decline and has good revenue and there are no concerns," noting that "the Iraqi dinar is covered at 150% of hard currency and the possibility of this reserve to control the currency."

 

 

"The Bank of promising new procedures and mechanisms for the auction currency different from the previous daily currency auction," noting that "currency auction will not stop, but the work done according to the new measures."

 

The Keywords during the conference that some officials in the economy had a total far from the banking sector's comments and warned of new central bank measures and confirmed the low foreign currency reserves at the bank, stressing that Iraq does not suffer from any decline and has good revenue and there are no worries. "

 

The central bank said he was open about the possibility of supporting the Iraqi economy, likely to control the sale of dollar traded through the application of new procedures process. "

 

On the other hand the central bank stressed that he supports private banks through convince the government to put their deposits in government banks is currently studying some of the laws that can support the Iraqi economy, "./ ended Q

http://l-news.net/index.php/economy/72785.html

Edited March 3, 2015 by Butifldrm

[yota691]

Keywords: sell the dollar at the central bank auction of a large waste of hard currency

 
 

Number of Views: 35 | 03-03-2015 02:22 PM

03-03-2015 02:22 PM 
 
The governor of the Central Bank on the Keywords in his press conference that the mechanism of the previous dollar sale of the bank lead to a waste of hard currency and the Central Bank's role is to provide the dollar for the operations of trade just pointing out that there are those who took advantage of the move in the currency smuggling 
Keywords pointed to the existence of a new mechanism dollar exchange dealers across the conversion of banks depends after confirming the existence of import coupon.

[Butifldrm]

 

Budget and set conditions for hard currency to curb smuggling

 

Tue Mar 03 2015 half past three p.m. | (Voice of Iraq) - Add comments - Baghdad - Follow Mashreq 
confirmed a member of the parliamentary Economic Committee Najiba Najib, on Monday, that the general budget and set conditions for hard currency to curb smuggling, as pointed out that procedures The new bank is in line with the budget law. She said Najib in an interview on "10 to 11" which aired "Sumerian" channel, "The budget bill for the current year 2015 included a restriction or condition within one of its articles, which can not exceed the sale of the bank conducted by more than $ 75 million per day auction." She Najib said the "Bank has taken new measures to sell this currency in its daily auction," indicating that "new procedures for sale indicate that any order to buy dollars by participating in the bank auction banks should such amounts be in accordance with that documents can not be obtained only after 15 days. " She explained Najib, that "these actions taken by the Bank is that comes in line with the budget law, in addition to the reduction of currency smuggling," asserting that "a lot of switching offices was based previously smuggling hard currency out of the country, especially with the country's need for cash to cover our commitments of the currency. " The dollar price in the local market before the Iraqi dinar to reach 1126 sales price of the Iraqi dinar against the one after that 1120 was one of the dinar by the end of last year 2014.

Read more: http://www.sotaliraq.com/mobile2014.php?id=190102#ixzz3TKMXkV5n

Edited March 3, 2015 by Butifldrm

[Saint]

Thanks Yota and Butifldrm. Sounds like they are getting closer to doing something really big, and it involves currency.

[yota691]

Central Bank: Lanaih to stop selling the dollar and support the private banks
 
      Tuesday   03   March   2015 | 15:34
 



 

The most prominent in the news
 
Cash sale of dollars by selling the currency continuous window and there is no interruption, but it will be a new and there are no limits to the amounts for those wishing to obtain the dollar
  
Outbound Bank is a real and effective support of private banks in Iraq through convince the government to put a financial deposit in those banks as well as dealing with the outgoing ones in the state departments of all instruments
 
Bank deposit now teaches law is under preparation, if completed it during the next few days will be sent to the House of Representatives for adoption
 
Qurtas News / Baghdad 
The Central Bank of Iraq, on Tuesday, there was no intention to close the sale of currency window.
Alak said during a press conference held today at the Central Bank building Jadiriya that branch, "the central bank went to the new mechanisms on the sale of currency window after studied extensively, but which was previously followed and that weighed on the market because she carries a lot of problems, including operations money laundering. " 
Keywords and pointed out that "the mechanism used currently maintain a market economy, as well as support for the dollar exchange rate against the dinar by linking foreign remittances through the financial deposit paid by the dealer before buying the goods are placed in banks abroad as well as Takjna tax Iraqi state and thus join the lack inconsistencies in dollars, and the entry of the goods entirely according to invoices submitted. "
He added that the relationship "cash sales of dollars by selling the currency continuous window and there is no interruption, but it will be in a new way and there are no limits to the amounts for those wishing to obtain the dollar."
On the other hand pointed out that the relationship "the bank is heading in a real and effective support of private banks in Iraq through convince the government to put a financial deposit in those banks as well as dealing with the outgoing ones in the state departments of all instruments." 
He said the "bank is considering now deposit law is under preparation, if completed it during the next few days will be sent to the House of Representatives for approval."
Keywords that "revealed an ongoing process to delete the zeros of the currency was not canceled but is now in a position to prepare and study, and at the very least the next three years will be worked out largely because the task of administrative and financial operations can not rush it."

[yota691]

03/03/2015 (22:09)   -   the number of readings: 90   -   Issue (3303)
 
 

Keywords: cash sales dollar continuously .. no ceilings on the withdrawal of funds


BAGHDAD / Amer Mohi
 

Denied the central bank, on Tuesday, he stopped selling the dollar, pointing out that the bank gave the green light to implement the project to delete the zeros from the currency, while stressing taken new measures to trading in dollars, expect a decision parliamentary finance committee return dinar to his strength, returned central decisions to " good "because it is a challenge of smuggling currency out of the country.
The decision of the parliamentary finance committee Ahmed Hama Rashid in the "long", that "the central bank's plan to abolish the daily auction of the coin and determine the amount of $ 75 million a day, is a good step to prevent foreign currency smuggling out of the country," noting that "the decision returned good easily neutralized through this period. " 
He added Rasheed saying that "hard currency prices stabilized after a few days of taking the central bank's decision to cancel the daily auction, and that this contributed to the strengthening of the Iraqi dinar," expected "The coming days will witness the return of the dinar to strength again." 
He stressed that " meeting took place between the parliamentary Finance Committee and the Central Bank and has been discussed many issues, including the issue of the daily auction of the coin and the strengthening of the Iraqi currency, "pointing to" the formation of a small committee temporarily inside the Finance Committee to discuss the latest developments with the Central Bank by hosting maintain the relationship. " 
The governor Bank on the Keywords during a press conference, held in the bank building area Jadiriya in Baghdad, said that "the central bank went to the new mechanisms on the sale of currency window after studying extensively formerly followed which affected one way or another on the market because it was carries a lot of problems, including money laundering, "pointing out that" the mechanism used currently maintain a market economy, as well as support for the dollar exchange rate against the dinar by linking foreign remittances through the financial deposit paid by the dealer before buying the goods are placed in banks abroad, and thus join lack inconsistencies in dollars, and the entry of the goods entirely according to invoices submitted. " 
He added, Keywords that "cash sales of the dollar by currency selling continuous window and there is a disruption, but it will be in a new way and there are no limits to the amounts for those wishing to obtain the dollar." 
On the other hand Keywords pointed out that "heading the bank is real and effective private banks support in Iraq by persuading the government to develop a financial deposit in those banks as well as dealing with the outgoing ones in the state departments of all instruments", noting that "the bank is considering now saved Law deposits and is now under preparation and if completed it during the next few days will pay to the House of Representatives for approval. " 
He revealed Keywords that "the process of deleting the zeros constant currency has not canceled but is now in preparation and study the subject and at the very least the next three years will be worked out dramatically Because the task of administrative and financial operations can not rush it. " 
For his part, an expert on economic affairs Majid picture, said in an interview for the "long", that "the abolition of currency auction came to the goal of the organization of the currency sale in the market, especially after the great smuggling currency out of the country after auction open on a daily basis, "noting that" the basic problem is the development of a paragraph in the federal budget to determine the dollar selling in the daily auction of the Central Bank, "stressing that" the CBI plans are good for the organization of foreign currency sale to the market. " 
He added that the picture of "the existence of hard currency by greater than 150% of the local currency exporting is good and indicates that Iraq will not suffer from a lack of hard currency, "noting that" the presence of large amounts of dollar strengthens the dinar against the dollar and the currency regulates the sale process. " The Central Bank of Iraq, denied, on Tuesday, closing the sale currency window, and stressed "take new mechanisms to sell the dollar." 
parliamentary Finance Committee held (March 2, 2015) meeting with the Governor of the Central Bank and the Agency on the Keywords and director of TBI Hamdiya dry to discuss the financial situation The issue of transfer of funds from the commercial bank to Kurdistan without collateral. 
and confirmed the parliamentary finance committee member Majda al-Tamimi (February 2, 2015) that the rise in the dollar exchange rate "will not last long", and demanded that the central bank using monetary tools to control the market. 
It added that "the Commission predicted high dollar exchange rate of the dinar, when identified ceiling 75 million dollars for the auction of the Central Bank, the General Budget Law, while emphasized that the continuation of the long rally, called on the central bank using monetary tools to control the market. 
The MP Magda al-Tamimi said that "the parliamentary Finance Committee is expected to occur a rise in the dollar's exchange rate against the dinar, when identified ceiling 75 million dollars for the auction of the Central Bank, the General Budget Law, "noting that" such a paragraph came because the CBI sales were between $ 200 to $ 250 million a day, which led to the depletion of currency difficult in the country and low reserves of 77 to 67 billion dollars or less.

[SnowGlobe7]

What is a 150 percent increase from 1166.00?

[Markinsa]

What is a 150 percent increase from 1166.00?

 

777

 

-

[yota691]

Central denies low reserves of hard currency and the dollar will continue to sell new obsolete

 

 

Number of Views: 21 | 04-03-2015 02:44 PM



04-03-2015 02:44 PM 
 
CBI denied low reserves of hard currency, noting that it covers the Iraqi currency traded at more than one and half times the size, without setting a specific value of the reserves also denied the Governor of the Central Bank on the Keywords news about the existence of preventing the process of selling the dollar and to stop work ERA currency.

[Butifldrm]

 

 

Central Bank denies the low reserves of foreign exchange

• Agency eighth day
• March 4, 2015, 9:29
• No comments
• 47 Reading

 

BAGHDAD - ((eighth day)) Denied CBI, a decline in foreign exchange reserves has, pointing out that it covers the Iraqi currency traded at more than one and half times the size, without setting the value of the reserves.   The Hoshyar Zebari, Minister of Finance in the Iraqi government, said in February 27 last that the Iraqi Central Bank's reserves of hard currency fell to $ 68 billion, which means a decrease of 12.5% ​​equivalent to $ 9.7 billion, from the level at the end of 2013.   The governor of the Central Bank of Iraq, the relationship, he was "surprised by the statements of some officials about the low reserves of hard currency," stressing that "Iraq does not suffer from any decline in reserves, and has a good income and there are no concerns, and that the Iraqi dinar is covered at 150% of hard currency. "   The relationship, during a press conference in Baghdad, the central bank has taken new measures to buy and sell the currency to prevent money laundering and maintain the market, and a lot of hard currency being smuggled out of the country, as well as use in the operations of corruption, pointing out that the current rise of the dollar against the Iraqi dinar virtual height, and will not last long.   The parliamentary Economic Committee in the Iraqi Parliament had announced in October 20 / October last, that the Iraqi Central Bank foreign currency reserves stood at $ 76.3 billion, while the volume of currency in circulation amounted to 40 trillion dinars in the market. Central Bank of Iraq and held six auctions a week from Saturday to Thursday for the sale of foreign currencies, so as to provide dollar liquidity to the local market, and the average selling Bank of dollars to domestic banks price and exchange offices officially 1166 dinars. | ST |

http://8th-day.com/?p=98459

[TBomb]

 

الخميس 5 مارس 2015 | 07:45 مساء

| Number of Views: 109

Rasheed Bank announces exchange instruments of the pilgrims and the salaries of retirees of Nineveh and Salahuddin procedures

 

BAGHDAD / .. decided Rasheed Bank, on Thursday, to facilitate the procedures of the payment instruments pilgrims winners and non-winners in the hot spots (Nineveh / Salahuddin / Anbar) .

A statement of the Ministry of Finance "Eye Iraq News" received a copy of it, the Director General of the Bank Mohamed Abdel Wahab was quoted as saying that "the new regulations issued by the Rasheed Bank allows the citizen review of a number of branches that have been allocated for the disbursement of funds deposited instruments calculates open the pilgrimage at the bank," he said to be allocated to the branches are (Karkh / 23 Karkh district and branch 520 student Rusafa / Alboshjaa 519) and the province of Kirkuk (Babacrker / Branch June 1) and in Anbar province (gray Branch) and the province of Salah al-Din Samarra Branch).

He explained that "there are other facilities for retirees in the hot spots were allocated two branches in Baghdad to pay salaries and two (Yarmouk branch of the retirees of Nineveh province / branch and fitness for retirees Salahuddin" ./anthy 4 province

 

 

 

http://aynaliraqnews.com/index.php?aa=news&id22=33293

Edited March 5, 2015 by TBomb

[SnowGlobe7]

777

 

-

 

so are we looking at a .78 rate?

thanks Mark

[davis411]

so are we looking at a .78 rate?

thanks Mark

i will take that

right now

[Saintsfan]

Thank you

[Yukon Silvermoon]

Of course, this is just a silly number I pulled out of my hat from reading, but "covered by 150% of the hard currency" meaning .86*1.5=1.29?