OLD!! OLD ARTICLE!!! CBI is at 6% interest rate so this article is over a YEAR OLD!!!!!!!!!!So whatever forum it's posted on...can somebody tell them it's OLD!!! SO people can stop sending it to me..Thanks!
Governor of Central Bank: the current exchange rate appropriately and we have the ability to defend him
Said the Iraqi Central Bank Governor Sinan al-Shabibi, Monday, that the current exchange rate and of 1170 dinars per dollar is appropriate, and able to defend what we possess a foreign cash reserves, noting that adopts a policy of floating the central orbit to determine the exchange rate.
The Shabibi told (Voices of Iraq) that the Central Bank of Iraq "Itnebeny policy at the exchange rate is called the floating orbit, through which is determine the appropriate rate, and take decisions on the change in proportion with the issues that deplores that is inflation of the most important," noting that "central does not want to take action is causing confusion for the stability of the current market, such as reducing the price it produces a great demand for cash and other decisions. "
The exchange rate is the current basis, which amounts to 1170 dinars per dollar, he said Shabibi it "a good and stable and can defend Bahtiattiyatna big swallow 43 billion dollars now," noting that the defense of the price comes the fact that the Central considers a "balanced now and we must not embrace the price does not appreciate the defense him, but there may be economic variables related to the size of the precautions that may be less, for example Venmay to change it. "
And supports the central bank in its monetary policy on the quantity theory of money, which he attempts to control the rate of inflation in Iraq by withdrawing liquidity at a rate hike, bringing the price to more than 20% during the year 20,072,008, but he decided to lower the interest rate gradually until it reached to 7% today, also adopted the central selling the dollar in the auction, which runs for five sessions per week in an effort to impose stability at the Iraqi currency against foreign currencies, which are also called many economists to change.
Asked told (Voices of Iraq) on the possibility of changing the current monetary policy, Shabibi said that "monetary policy is not where many of the planning in many cases, they try to be a policy of correcting the situation created by the economy, if there is a kind of dislocation and instability of prices," where enter the Central time to "correct the situation dealing short-term policy because it does not deal with long-or medium policy."
He Shabibi that "the central bank's lower interest rates is not considered a change of monetary policy because it has the criteria followed by the observation of the evolution of inflation," citing the example of "interfering in the event of an imbalance in the work of the government and the private sector which is increasing rates of inflation, intervenes Central by variable destruction which is not owned by anyone else is liquidity, and because he has this variable, it is fighting inflation on the way Verwaha and reduce it affects the way the economy, ".
Governor of Central Bank: the current exchange rate appropriately and we have the ability to defend him
Said the Iraqi Central Bank Governor Sinan al-Shabibi, Monday, that the current exchange rate and of 1170 dinars per dollar is appropriate, and able to defend what we possess a foreign cash reserves, noting that adopts a policy of floating the central orbit to determine the exchange rate.
The Shabibi told (Voices of Iraq) that the Central Bank of Iraq "Itnebeny policy at the exchange rate is called the floating orbit, through which is determine the appropriate rate, and take decisions on the change in proportion with the issues that deplores that is inflation of the most important," noting that "central does not want to take action is causing confusion for the stability of the current market, such as reducing the price it produces a great demand for cash and other decisions. "
The exchange rate is the current basis, which amounts to 1170 dinars per dollar, he said Shabibi it "a good and stable and can defend Bahtiattiyatna big swallow 43 billion dollars now," noting that the defense of the price comes the fact that the Central considers a "balanced now and we must not embrace the price does not appreciate the defense him, but there may be economic variables related to the size of the precautions that may be less, for example Venmay to change it. "
And supports the central bank in its monetary policy on the quantity theory of money, which he attempts to control the rate of inflation in Iraq by withdrawing liquidity at a rate hike, bringing the price to more than 20% during the year 20,072,008, but he decided to lower the interest rate gradually until it reached to 7% today, also adopted the central selling the dollar in the auction, which runs for five sessions per week in an effort to impose stability at the Iraqi currency against foreign currencies, which are also called many economists to change.
Asked told (Voices of Iraq) on the possibility of changing the current monetary policy, Shabibi said that "monetary policy is not where many of the planning in many cases, they try to be a policy of correcting the situation created by the economy, if there is a kind of dislocation and instability of prices," where enter the Central time to "correct the situation dealing short-term policy because it does not deal with long-or medium policy."
He Shabibi that "the central bank's lower interest rates is not considered a change of monetary policy because it has the criteria followed by the observation of the evolution of inflation," citing the example of "interfering in the event of an imbalance in the work of the government and the private sector which is increasing rates of inflation, intervenes Central by variable destruction which is not owned by anyone else is liquidity, and because he has this variable, it is fighting inflation on the way Verwaha and reduce it affects the way the economy, ".