CBI allows banks to sell $5000 for citizens without conditions

Central Bank of Iraq, Monday, allowing the banks to sell $ 5,000 to citizens without conditions, as pointed to cancel ceilings conversion of foreign currency abroad by banks.

A statement issued by the Central Bank, “the bank seeks to maintain the stability of the value of the Iraqi dinar as part of its policy for the protection and growth of the Iraqi economy and that will ensure demand for foreign currency in full, not intersect with the anti-money laundering law. ”

The statement added that “the bank decided to sell foreign exchange by banks to customers up to $ 5,000 to the customer per, compared to highlight the identity of the Civil Status and canceled conditions and other details listed in the previous instructions, “noting that” the bank also decided to double the ceilings selling foreign currency sold in cash to banks a week. “

The statement pointed out that “the bank also decided to abolish the foreign currency ceilings banks sold daily, for the purposes of conversion, “pointing out that” the banks are entitled to determine the price of buying and selling foreign currency to their customers and canceled selections previous price. “

The Central Bank of Iraq in May, for direct Rafidain and Rasheed sell the dollar for citizens at 1189 dinars to the dollar, within your purposes and ongoing use of foreign currency which travel, treatment and الإيفادات Hajj and Umrah and the amounts do not exceed the $ 10,000.

The Central Bank of Iraq last August for high its hard currency reserves to $ 67 billion, saying it the largest in the history of Iraq.

The central bank held the Iraqi daily sessions for the sale and purchase of foreign Currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a commission certain.