اليات البنك المركزي العراقي في الحفاظ على استقرار سعر الصرف مع اشارة خاصة لمزاد العملة == Mechanisms of Iraqi Central Bank In Maintaining The Stability of The Exchange Rate With A Special Reference To Currency Auction
Author name:
منى جابر حايط الشهيلي
Supervisor name:
وحيدة جبر خلف المنشد
General topic:
Administration and Economics
Specific topic:
Economy
Degree:
Master
University:
Mustansiriyah University
Language:
Arabic
University location:
Baghdad
First pages:
07T4287 - p.pdf
Abstract:
Iraq's economy has seen a year later (2003), both the monetary and real, a new phase where changes have occurred, the most important of them the Central Bank of Iraq got for its independence, according to the law (56) for the year (2004) in the formulation of monetary policy, and determine the appropriate tools in the implementation of the objectives of that policy, particularly price stability and raise the value of the Iraqi dinar.Indeed, the Central Bank of Iraq, a year later (2003), introduced window for sale and purchase of foreign currency. Thus, it has harnessed the accumulated foreign reserves, as the currency auction is an indirect monetary tool aimed at the withdrawal of excess liquidity and maintain the value of the Iraqi dinar, so the study runs from the hypothesis that the central bank can stabilize the dinar exchange rate, and that any limitation on daily sales of the dollar, it will reflect negatively on that stability.Therefore, the purpose of this study, in the process testing the hypothesis, is to evaluate the role of the new established mechanisms by the Iraqi Central Bank to raise the value of the Iraqi dinar, and maintain its stability, especially auction currency, and then review the options before the Central Bank under the low foreign reserves as a result of lower oil prices.For the purpose of the detailed explaining of the whole aspects of the study, it was divided into three chapters, followed by conclusions and recommendations. Chapter one discusses the theoretical framework of the exchange rate and the Central Bank of Iraq, and chapter two offers the objectives, functions and independence of the Central Bank of Iraq in the framework of the law (56), and the chapter three highlights the role of the auction in the stability of exchange rate, and the options under a decline in foreign reserves.
