قياس أثر السياسة النقدية في سعر الصرف الأجنبي في العراق للمدة (2004-2019)‎

Abstract EN

Monetary policy is considered as one of the components of the general economic policy used by the state.

Monetary policy exercises its work by controlling the size of the monetary supply and changing it according to what suits and commensurate with the economic conditions in the country.

It is likely that monetary policy has been emerged as a specific concept in the late nineteenth century, and the central bank takes the tasks of designing and implementing monetary policy, as it is one of the important parts of the macroeconomic policy.

The existence of economic relations and commercial activities among the countries of the world makes each country its own national currency, which has led to the existence of the exchange rate where trade exchange takes place with credit and debt relations .

Many countries of the world tended to float their currency, which has led to the existence of foreign exchange markets where currencies are bought and sold .

On the local level, the Central Bank began its freedom in the year 2004, when Law No.

56 has issued, where the second paragraph of article two stipulated that the Central Bank should enjoy freedom and independence in facilitating monetary policy far from the government and other parties.

According to this law the independence means not lending the government directly or indirectly.

According to the Central Bank of Iraq , it is represented by the stability of the general level of prices associated with the stability of the dinar exchange rate against the dollar and the maintenance of a complete cover for the currency of foreign reserves in addition to the willingness to meet the requests for converting the dinar into the dollar.

The central bank and its monetary policy will lose the most important functions in harmony with other policies in achieving the central development goal.