Central bank policy increase the amount of dollar sold in the auction will affect the monetary reserves
Attorney Rikabi: central bank policy increase the amount of dollar sold in the auction will affect the monetary reserves of the coin
Date: 14/10/2012 07:47:34 Sunday
Baghdad (news) .. Criticized a member of the Committee on the economy and investment MP / National Alliance / Ibrahim Rikabi, central bank policy to sell the dollar in the auction in large quantities because it will affect the entire cash reserve of hard currency in the country will lead to the stability of the Iraqi dinar exchange rate against the dollar.
Rikabi, (of the Agency news) : The current monetary policy pursued by the central bank is not built on the basis of cash or bank valid evidence that it increases the offer to sell the U.S. dollar in the auction did not think reservoir located in hard currency has. explained: that the source of hard currency “dollar” comes through the sale of oil There are no other sources can be relied on to attract hard currency for the country, when increased amounts of dollar sold at auction the central bank will reduce the monetary reserves of foreign currency, thus affecting the value of the Iraqi dinar against international currencies. added: that the committees of the financial and economic Alniabaten held ongoing meetings with the governor Central Bank and his aides about increasing U.S. dollar and the process of selling the dollar in the auction and conducted several discussions and dialogues this subject but to no avail and will not reach radical solutions convincing. This was announced CBI for increasing sales of the dollar to reach more than $ 299 million in its daily auction , exchange rate was 1166 dinars for one dollar, and with the participation of up to 24 local banks. / end / 8. n. p /