Expert: Central Bank needed to change policies rather than change leaders

[alan_coaks_3]

4 - 16 - 2012

Baghdad/JD/...Confirmed economic expert Dr. Asia Al Kazim said the Central Bank needed to change policies rather than change leaders. According to Professor of Economics in the Faculty of management and Economics at the University of Baghdad/dinar: open Bank policies behind the deterioration in currency rates, saying that the solution to the problem would be to change the leadership of the Central Bank of a comprehensive solution. Saadi added that the Bank would strengthen the position of the currency if freed from the pressure faced as opening up trade in currency and the possibility of a withdrawal of any amount by anyone at any time, a banner that the solution lies in new policies to return to stock and control central sale of dollars and a ceiling for daily sales volume as a necessary step to get rid of the control elements that you drag a bulk currency causing confusion in the Bank's cash reserve size Which leads often to a high dollar exchange rate dinar. Saadi stressed the need to identify the Bank beneficiaries of foreign currency as a necessary at the current stage, adding that what is important is not to come but what are you going to do. The Iraqi market is currently experiencing a rise of US dollar to Iraqi dinar, as sales of the Central Bank of Iraq of hard currency, with the Central Bank attributed the reason in addition to the financing of trade with neighbouring countries by Iraqi businessmen. Deputy Central Bank Governor Mohammad Saleh appearance in January 2012, raise the price of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign currencies with four dinars, indicating that the nominal dinar is not commensurate with the PPP or the real price of the dinar exchange rate against the dollar. The Central Bank of Iraq on 15 January with the selling and buying of the dollar price (1166) during the auction, hosted by daily participation of 23 banks, after that he was buying and selling of the dollar price of 1170 dinars per dollar.

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