Dollar sales increase in the central bank auction will affect the hard currency reserves

Financial expert: dollar sales increase in the central bank auction will affect the hard currency reserves

Date: 02/01/2013 11:37:34 Wednesday

Baghdad (news) .. Warned financial expert Mohsen Ali, of increasing dollar amounts sold at auction the central bank because it will affect the size of monetary reserves of hard currency located at the Central Bank.
said Ali (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 and there is no other sources can be relied on to attract hard currency for the country, when increase the amount 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. This was announced CBI for increasing sales of the dollar to reach more than $ 299 million in its daily auction, the exchange rate was 1166 dinars Iraqis against one dollar, and with the participation of up to 24 local banks. / end / 8. n. p /

ikhnews