CBI sells gold to the
public it will strengthen dinar and reduce dollarization
CBI sells gold to the public it will strengthen dinar and reduce
dollarization
If CBI sells gold to the public it will strengthen dinar and
reduce dollarization
Baidhani described monetary policy successful
Baghdad – Mostafa Hashemi said the academic economic Dr Majid Baidhani that a central bank to activate the monetary policy tools and the willingness to sell gold to the public would be granted dinar greater strength as well as it reduces the dollarization phenomenon experienced by the economy.
Baghdad – Mostafa Hashemi said the academic economic Dr Majid Baidhani that a central bank to activate the monetary policy tools and the willingness to sell gold to the public would be granted dinar greater strength as well as it reduces the dollarization phenomenon experienced by the economy.
added Baidhani in a statement (morning): The adoption of this
measure requires increasing the Central Bank reserves of gold as a cover for
the currency, and the promotion requires finding a basket of currencies to
assess the economy vulnerable to prices, the dollar downwards or upwards.
reserves rose central gold recently from 38 to 90 tons of the
precious metal after he announced the purchase of 60 tons in the past few weeks
for the purpose of selling it to the public, after contracting with companies
to Sikh to ensure the presence of gold purity high and the origins of
well-known global and used as part of their savings. it is hoped that the
proportion of gold allocated to the Mint about 11 tons, and identifies public
need and desire for the allocation of additional quantities Stamping to sell to
jewelers and investors.
said Baidhani that monetary policy tools two types quantitative
tools and tools of quality and different conditions of use depending on the
economic situation of the country for example, in the case of inflation is the
goal of economic policy to achieve price stability and in either case the
downturn will be aimed at achieving economic growth and increased operating.,
and added that the measures taken by the central bank reflect the familiar real
economic reality of the country, where the launch of gold to the public would
control the levels of liquidity and that it increases the rate of adoption of
the public on the financial assets of the real, represented by the precious
metal rather than dependence on foreign currency .
stressed that this measure will reduce the dollarization
phenomenon experienced by the economy, where most of the business transactions
and trade within Iraq
said Baidhani that the weakness of public awareness of the
importance of buying and selling shares in the local currency dramatically in
the emergence of dollarization, which severely hurt the national economy,
adding that this called for reasons that central to the practice of monetary
policy tools effectively to save the economy from deteriorating and to enhance
the strength of gold dinar.
