Central Bank to increase the sale of hard currency in the amount of $ 100,000 per week will support the dinar exchange rate

Baghdad (newsletter) … Member of the Committee praised the economy and investment the National Alliance Deputy//Ibrahim Al-Rikabi, the Central Bank’s decision to increase the sale of foreign currency for remittance companies by $ 100,000 a week, will help to stabilize the exchange rate of the dinar.

Rikabi said (News News Agency): the auction of foreign currency holding true to support national currency because it preserves the balance between supply and demand of foreign exchange in the market, but in the past during the work of the auction money-laundering through fictitious companies and contracts entered into.

He continued in that period was the proportion (60%) Companies dealing with fake Central Bank auction with the aim of smuggling foreign currency and money laundering, excluded him to repeat those situations when the new Central Bank administration because they were aware of it and had the experience of what happened in the previous administration.

He added: that a central bank dollar sales increase-weekly infusion of corporate banking and remittance is “correct” and will strengthen Iraqi dinar, it responds to the requirements of the market of currencies, provided that real and fake companies and fair contracts to import goods and materials from abroad.

The Bank decided to increase the share auction downloads and granted to the Exchange and remittance companies by 100,000 dollars to exchange companies who increased their capital according to the requirements of the Central Bank of Iraq to 500 million dinars, with the quota is increased to 150,000 dollars for remittance companies who increased their capital before the date required by the Central Bank of Iraq actually to fifteen billion dinars