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Thursday, April 18, 2013

Economist says monetary policies need to improve prior to dropping zeros from IQD, 18 APRIL

Economist says monetary policies need to improve prior to dropping zeros from IQD
Economic expert: getting lost in the monetary policy makes the deletion of zeros is not successful project
Published in: 11:55 am, April 18, 2013 Editor: ipa 2
BAGHDAD (Iba) … said, an expert in economic affairs peace Sumaisem, to begin procedures to delete the zeros from the Iraqi currency in the light of the confusion in the monetary policy and the instability of the dinar and improve Sarsrv of them unsuccessful procedures.
She Sumaisem told the independent press (Iba) said Thursday that “the project to delete the zeros is aimed at two dimensions are reducing the money supply and improve the price of the Iraqi dinar, pointing out that” the deterioration of the dinar exchange rate in the current period after pumping quantities of ill-conceived from the dollar makes the process of deleting zeros is able to improve the rate of the dinar will not create a balance with the dollar. “
She pointed to the “dual price policy that arise between the central bank auction and outside the auction and the existence of attempts to smuggle currency has created a discrepancy between the two rates inside and outside the bank, making it the Iraqi dinar less valuable than the U.S. dollar.”
The Sumaisem stressed that “the process delete Asfarfa the light of the deteriorating value of the Iraqi dinar against the U.S. dollar is not successful and check the equation between the two rates, but creates an imbalance in the monetary policy.”

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