Monday, October 21, 2013

10-21-2013 Shabibi (Ex Governor CBI)

That the large size of the reserve has given us sufficient flexibility to use monetary policy to fight inflation, which had reached about 50% in 2004, we started to raise the dinar against the dollar in the year to encourage outflows Kalastairadat and others and thus less pressure on the domestic market at the same time we raised interest rates even move money to the financial market of the real market.
This scored, and we insist on its lifetime and it was the style of the auction or sale and purchase of foreign currency cash of the most important policies in this area. We also did not waste public money because we sold and received $ dinars suit sober and stable and can be converted value to the dollar at any time and without difficulty