Central controlled at the level of hard currency in Iraq

BAGHDAD (Iba) … Stressed economic analyst, Dr. Hilal Taan that the Iraqi Central Bank has the ability and the almost complete control over the level of hard currency in the country through auctions organized by the League.

He Taan told the independent press (Iba) that hard currency sold through auctions the central bank and some other ports in the Rafidain and Rasheed, and if infect the limit by the smugglers $ 450 million, the bank is to stop such auctions for periods extending to about two weeks or three, he said.

And did when he called that currency smuggling operations exist in most countries of the world and not only in Iraq, and therefore, for such operations is not new Palmstgrbh in the Iraqi economy.

However, it is true that this matter has influence on the economy but not Baltathirakabar, as is known, Iraq’s oil exports, which rose to more than 3 million barrels per day, sold the dollar and the Ministry of Finance completing sales in U.S. dollars and then you are buying the Iraqi dinar from the central bank and the conversion sales amounts in dollars to him and this process will be the central bank may possessed amounts of good foreign currency, which had a balance of more than sixty-seven billion dollars, and this balance is increasing and it is not to smuggle currency to Sulaymaniyah or neighboring countries a significant impact on the Iraqi economy, the limit his mind.

ipairaq.com