[millionday] Member of the Committee on the economy and investment/National Alliance Deputy Ibrahim Al-Rikabi, said the move by the Central Bank to sell gold coins and other money in dollar auction came to reducing demand for dollar to reduce its value against the dinar. Rikabi said (to news agency news): there is a new strategy followed by the Central Bank to reduce the US dollar to Iraqi dinar by selling gold coins and other currencies besides the dollar in public auction, what makes demand for buying the dollar less so it will maintain the stability of the local currency in exchange for hard currency.
[millionday] He added: the new orientation by the Central Bank to sell currency auction will be processed by inflation in the dollar versus the dinar because there is strong criticism of the policy of the Central Bank because of continuing high dollar local market led to the use of Central Bank policies and ways out of this crisis. The Central Bank had announced earlier that it is developing a feasibility study for the sale of gold coins and cash and other foreign currencies alongside the Treasury remittances to the public soon, indicating that this procedure was in place previously in the 1980s, but the embargo in the 1990s made the citizens focused on buying the dollar to easily discharged
[millionday] so this is great becAUSE it is the return of past policies
[hstrymknwmn] wow !!! im two min late and millionday is smokin’ lol [sisterbreen] millionday do they have to be ammended
[millionday] the timeline of when this was in place before and the changes we are waiting on — make this change a great step [clay] millionday r the gold coins the new coins [millionday] the gold coins are not the ones that will be in distribution
[brett123] i am tired of the baby steps i am ready for them to become adults and start walking and talking like adults
[millionday] the sale of foriegn currency shows us that the rate will be set as an internationally recognized currency in my opinion [Fresh] brett123 me too!
[millionday] -Member of the Financial Parliamentary Committee MP Abdul Hussein Reysan called the Parliament to endorse new laws that would facilitate the economic work in the country and form a developed administrative system to eliminate the financial and administrative corruption. “Building the State economically requires setting a future economic vision and establishing a support for this vision through plans and agreements among political partners as well as support of the legislative body,” he stated to Iraqi News.
[millionday] During the last 35 years, Iraq adopted a communist system but recently it turns into the Market System which depends on competition so the legislative body should prepare new laws to direct the Iraqi markets positively,” he added. MP Reysan stressed that “Iraq enjoys high level oil economic system since its production of oil reached three million barrels per day on last July, but now it should pay more attention to agriculture and infrastructure represented by industries in order to increase its economic capacities.”