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Iraq's finance giants to discuss exchange rate fluctuation

30/04/2012 15:02 BAGHDAD, April 30 (AKnews) - The federal Finance Committee will meet with officials from the Iraqi Central Bank and Ministry of Finance this week to discuss stabilizing the exchange rate of the Iraqi dinar compared with hard currency.

Sums of moneyThe committee from the Iraqi Council of Representatives announced today they will summon Iraq's officials from Iraq's most important financial institutions to get informed about the procedures applied to stabilize the Iraqi dinar, which has been at its lowest level in three years against the US dollar.

On Friday, the Iraqi Central Bank (ICB) accused four countries of a "conspiracy" to hit the country's financial economy and weaken its financial strength, indicating that free trade in Iraq is adopted to hit the economy.

Committee member Amin al-Hadi said the Finance Committee held last week discussions about the Iraqi dinar exchange rate and measures from the ICB and the Ministry of Finance.

"The committee requested new data about the applied procedures," he said.

"We will get informed about the adoption of the bank and the Ministry of Finance for proper solutions in keeping the exchange rate and foreign currency selling procedures in daily auction."

The Iraqi dinar registered recently at a selling rate of 1,290 IQD per dollar.

The value of the Iraqi dinar began to decrease early last month after it was stable at an exchange rate of 1,190 IQD per dollar.

After reports that hard currency was being transferred to Iran and Syria, both of which are under international sanctions, the ICB imposed strict measures.

The ICB denied last month media reports that the bank stopped selling foreign currency as a measure to protect the Iraqi economy due to the political crisis in the region.

The ICB works to maintain price stability, implement monetary policy, including exchange rate policies, issue and manage currency, manage the reserves of foreign currency as well as regulate the banking sector.

http://www.aknews.com/en/aknews/2/304562/


Kewangan gergasi Iraq untuk membincangkan turun naik kadar pertukaran
BAGHDAD 30/04/2012 15:02, 30 April (AKnews) - Jawatankuasa Kewangan persekutuan akan bertemu dengan pegawai-pegawai daripada Bank Pusat Iraq dan Kementerian Kewangan minggu ini bagi membincangkan menstabilkan kadar pertukaran dinar Iraq berbanding dengan mata wang keras.

Sejumlah moneyThe jawatankuasa daripada Majlis di Iraq Rakyat mengumumkan hari ini mereka akan memanggil pegawai Iraq daripada institusi Iraq yang paling penting kewangan untuk mendapatkan maklumat mengenai prosedur yang diaplikasikan untuk menstabilkan yang dinar Iraq, yang telah berada pada tahap paling rendah di dalam tempoh tiga tahun berbanding dolar AS .

Pada hari Jumaat, Iraq Central Bank (ICB) menuduh empat negara "konspirasi" yang melanda ekonomi kewangan negara dan melemahkan kekuatan kewangan, yang menunjukkan bahawa perdagangan bebas di Iraq pakai untuk memukul ekonomi.

Ahli jawatankuasa Amin al-Hadi berkata Jawatankuasa Kewangan telah mengadakan perbincangan minggu lalu tentang kadar pertukaran dinar Iraq dan langkah-langkah dari ICB dan Kementerian Kewangan.

"Jawatankuasa meminta data baru mengenai prosedur yang digunakan," katanya.

"Kami akan dimaklumkan mengenai penerimaan bank dan Kementerian Kewangan bagi penyelesaian yang sesuai dalam memastikan kadar pertukaran dan prosedur menjual mata wang asing dalam lelong harian."

Dinar Iraq yang didaftarkan baru-baru ini pada kadar yang menjual 1290 IQD setiap dolar.

Nilai dinar Iraq mula berkurangan awal bulan lalu selepas ia adalah stabil pada kadar pertukaran 1190 IQD setiap dolar.

Selepas laporan bahawa mata wang keras sedang dipindahkan ke Iran dan Syria, kedua-duanya adalah di bawah sekatan antarabangsa, ICB mengenakan langkah-langkah yang ketat.

ICB menafikan laporan media bulan lepas bahawa bank itu berhenti menjual mata wang asing sebagai langkah untuk melindungi ekonomi Iraq yang disebabkan oleh krisis politik di rantau ini.

ICB yang berfungsi untuk mengekalkan kestabilan harga, melaksanakan dasar monetari, termasuk dasar kadar pertukaran, isu dan menguruskan mata wang, menguruskan rizab mata wang asing serta mengawal selia sektor perbankan.
 


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