Do you know what determines the value of a country’s currency? While the value of a currency is determined by numerous complex factors, investors should have an understanding of how currency values and exchange rates fluctuate. Learn how currency exchange, and supply and demand affect there countries currency. Demand for goods, services and investments all play a key role in […]
Said financial expert Mohsen Ali, the presence of internal and external factors control the increase of the exchange rate of U.S. dollar against the Iraqi dinar, saying, that the Central Bank and the Iraqi Stock Exchange does not bear a reason for that. Ali said in a press statement: The Central Bank is working hard since (2003) to increase the […]
BAGHDAD, An Iraqi Central Bank introduced new mechanisms to control the process of converting foreign currency include requiring banks to open special files each customer wants to buy the currency at the central bank to provide details within 15 day. The deputy governor of the Central Bank of the appearance of Mohammed’s (Center Brief for the Iraqi Media Network) that […]
Baghdad, (Rn) – The Central Bank of Iraq, that the system of monthly payments in Iraq exceeded 18 trillion Iraqi dinars, indicating that the system reduced the transfers of cash manually. and Iraq has begun running the payments system since 2006 with the help of U.S. Treasury Under system of financial trading exchange between Iraqi banks under the supervision of the […]
The deputy governor of the Bank according to the appearance of Mohammed, that the Central Bank proved the dinar exchange rate against the dollar to 1189 dinars to the dollar after the addition of 13 dinars, the bank commission and profit banking companies ten dinars to the dollar. He added that the Central Bank sells U.S. dollar to 1166 dinars, […]
Baghdad: JD led Deputy Prime Minister Dr. rose Nuri Shaways said, the Ministerial Committee established to consider the Iraqi dinar exchange rate fluctuations. The meeting was attended by Ministers of finance and oil, planning and trade, agriculture and the Governor of the Central Bank of Iraq and Secretary General of the Council of Ministers and Chairman of the National Commission, […]
Hayat – Baghdad – Naseer Goldfinch exceeded the cost incurred by the Central Bank of Iraq since 2004 to stabilize the exchange rate of the dinar against major currencies $ 200 billion, according to Iraqi officials, alerted to the possibility of growth of the number in the coming months due to pressure against the dinar of UN sanctions and Western Syria […]
Economic seminar drew a map of the reform model and identified the course of the relationship between the public and private sectors Baghdad Yasser incumbent Hussein Tgb Raised the Business Council of the Iraqi National important questions on the road to illustrate the path of the professional relationship between the government and the private sector during his lecture tagged (TBI basic […]
Baghdad, Member of the parliamentary Finance Committee revealed Haytham al-Jabburi from the Committee meeting with the Ministry of finance and the Central Bank to form a Committee studying steps to preserve Iraqi dinar. He said al-Jabouri l/JD/that the Committee had a meeting with Central Bank two managers in the Ministry of finance for the purpose of identifying the most important […]
BAGHDAD – The finance committee in the Iraqi Council of Representatives today warned about the deterioration of the Iraqi economy due to the low exchange rate of the dinar to the US dollar, assuring that proposals are underway to get the country back on its feet. Committee member Shawrash Mustafa said the committee began to study the deterioration of the […]
BAGHDAD: Iraq has seen its currency fall against the dollar despite taking in billions per month in oil revenues, at least in part due to the demand for dollars of its sanctions-hit neighbours Iran and Syria. After being stable at around 1,160 per US dollar for years, the Iraqi dinar was exchanging hands at a rate of 1,230 last week […]
Criticized the Adviser to the Prime Minister for Economic Affairs Abdul Hussein Al-Anbuge, Saturday, the Iraqi Central Bank’s policy to lift the Iraqi dinar against the U.S. dollar, while noting that the bank had not coordinated with the economic system in addressing the situation, saying that such policy violates the productive base in Iraq. Said Abdul Hussein Al-Anbuge in an […]
Iraq’s economy has become vulnerable to regional shocks and fluctuations in exchange rates of currencies of neighboring countries like Iran and Syria against the U.S. dollar because it will reflect negatively on the economy of the local market in terms of commodity prices, because most of them imported. As advised economists need to work on the development of all economic […]
A source of political beginning for (people), on the efforts made by Prime Minister Nuri al-Maliki for the overthrow of the Governor of Central Bank of Iraq Shabibi on the back of refusing a request by the government earlier borrowing from the financial reserve of Iraq to cover the expenses of government. The source, who asked not to be named […]
Central Bank of Iraq that the reserves of Iraq of foreign currency rose to $ 58 billion after the $ 50 billion last year, 2010. And the Advisor to the Governor the Central Bank of the appearance of Mohammed Saleh said that the bank was able during the last period to maintain market stability and curb high inflation that existed […]
“Some countries have started to deal in Iraqi dinars, during the transformative amounts of both Iran and the United Arab Emirates, Syria, Jordan and Egypt, asked me the other side as the customer wants to receive Hwalth also dinars, and this means that the dinar is available to have in large quantities.” Baghdad – Nasser Bijari attributed the owners of […]
VietFinanceNews.com – The State Bank of Vietnam plans to increase the value of the Vietnamese dong against the US dollar over the next four months in a bid to protect the value of the domestic currency, State Bank Governor Nguyen Van Binh told Sai Gon Economic Times this week. “Since February, the real value of Vietnamese dong has risen slightly,” […]
Baghdad / Iraq’s Future Sales from the Iraqi Central Bank, up by about $ 49 million to reach $ 169 million, compared On Sunday, who scored more than 120 million dollars. Saw Tuesday’s session, a rise in bank sales to reach 169 million and 580 thousand dollars was covered by the bank at an exchange rate basis was 1170 dinars […]
Vietnam’s central bank said on Saturday it had lowered the official exchange rate between the dong and the dollar by another 0.1 percent to 20,713 dong per dollar after a major devaluation on Friday. The new official rate applies to interbank transactions on Saturday, the State Bank of Vietnam said on its website (www.sbv.gov.vn). The country’s interbank market is closed on […]
The governor of Iraqi Central Bank Dr. Sinan al-Shabibi stated to (Al-Sabah paper) that the central bank has proved its ability to meet the disclosure of Iraq dinar and limit the deficit against the dollar due to the accumulation of Iraqi cash reserves, which exceeded 41 billion dollars, as stated in the conference of banking business, which held under the auspices […]
Al-Shabibi: We Could Control the Rise of U.S. Dollar Through the Iraqi Cash Reserves
The governor of Iraqi Central Bank Dr. Sinan al-Shabibi stated to (Al-Sabah paper) that the central bank has proved its ability to meet the disclosure of Iraq dinar and limit the deficit against the dollar due to the accumulation of Iraqi cash reserves, which exceeded 41 billion dollars, as stated in the conference of banking business, which held under the auspices of Iraqi Banks Association with high-level representation of the Iraqi Central Bank.
Al-shabibi said that there might be participations in the first stage to finance the wheel of major reconstruction, and we in the Iraqi Central Bank would encourage the entry of private banks in financing the strategic projects.
With regard to the high exchange rate of U.S. dollar, Alshabibi said that Iraqi Central Bank does not work randomly, but there are some measures that we have tried to check out for some important issues in central bank’s auction, because the situation was very sensitive and has an impact on the market rapidly, the dollar exchange rate moved upward, which we wish clearly that the rapid realization what makes the bad reaction of the market’s exchange rate, but the capacity of the Central Bank and its hard work was able to go back to stability and full control over the cash reserve which is managed by the Central Bank of Iraq that dealt with the case of oscillation at high speed.
Alshabibi called the Iraqi officials to make sober statements about monetary policy, because we are talking on developing a particular sector, the most sensitive and important sector which is real advance for the development in Iraq, and as mentioned above, the purpose of the reserve is to stabilize the Iraqi dinar, that the Central Bank succeeded to sustain.
Alshabibi added that the Iraqi private banks have good financial status now, to contribute in the investment of big and medium enterprises, as they are qualified to play a real role in reviving the Iraqi economy.
Alshabibi called the private banks to take the advantage of the Iraqi government’s invitation to support the private sector through playing the role of money product supplier and urged the bankers to access to ideas aimed to develop the Iraqi banking sector.
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