مزاد العملة الأجنبية كبديل لعملية السوق المفتوحة في التأثير على القاعدة النقدية : العراق حالة دراسية للمدة (2004-2016)‎

الملخص EN

The study dealt with foreign currency auction as an alternative to the open market process and its impact on the monetary base, as it included the ability of the central bank to stabilize the price of the Iraqi dinar as a direct intervention tool to stabilize the value of the currency and control levels of local liquidity.

The study examined the period (2004-2016) in order to identify the prominent and effective role played by the monetary authority in Iraq during this period, it was found through the results of the analysis that the banking reserves R and then the monetary base MB had a stronger impact in the auction of foreign currency.

Policymakers now consider the exchange rate as an intermediary tool in influencing the monetary base, which revolves around achieving the ultimate objectives of monetary policy, namely, maintaining low inflation rates.

It went even further in targeting inflation across those mechanical ones.