Central bank: we catch the exchange rate at 1190 dinars to the dollar

Central bank: we catch the exchange rate at 1190 dinars to the dollar

Thursday, October 04, 2012 11:29

[Baghdad – where]

The Central Bank of Iraq the stability of the dollar in the currency market, noting that the price of the dinar “saw a clear improvement as a result of stability.”

The deputy governor of the Central Bank of the appearance of Mohammed Saleh told all of Iraq [where], said on Thursday that “the central bank action to adjust the price of the dollar against the dinar, at 1.18 or 1.19,” Mushir that “all banking offices accounted for [5 percent] of traffic demand for the dollar. ”

He added that “the biggest movement of demand for the dollar are transfers for foreign trade financing of Iraq’s imports.”

He pointed out that “all small and big money is going according to the anti-money laundering law, which is currently in force, and through which we can discover anything contrary to the law, and he needs to pay its best form.”

The Iraqi dinar exchange rate has witnessed volatile noticeable against the dollar earlier, reaching its price to 1300 dinars to the dollar, while the price under auctions CBI daily 1166 dinars to the dollar, an increase of 134 dinars per dollar, which is equivalent to an increase of approximately 11% for its official rate.

The Central Bank Governor Sinan al-Shabibi has attributed this volatility after meeting with House Speaker Osama Nujaifi to weak domestic output and lack of exports from Iraq [except oil] and the weakness of government measures to attract capital to Iraq, as well as the political situation tense internally and regionally, and the economic blockade suffer from some neighboring countries, in reference to Syria and Iran, has been the formation of governmental committees to determine the reasons behind the decline of the Iraqi dinar against the dollar. ended 2.
Source: alliraqnews