CBI: Bank sales fell not on the measure declined to provide demand

Counting the Iraqi Central Bank, on Wednesday, the lack of demand for foreign currency in its daily auction is not a measure of its ability to provide demand.

The governor of the Bank acting Abdul Basit Turki for “obelisk”, “The bank puts a report periodically on the extent of the market need for coin mechanisms available and the effectiveness of the procedures followed in the provision of the required quantities of the dollar, either fluctuating demand not a sign of decline provided.”

The Turkish that “wiggle demand for the dollar is normal because it follows the market need and the availability of liquidity and volumes abuse channels concerned,” noting that “some believe that the low demand for the currency in the bank auction is a bad thing or index to fluctuate economic situation of the country and this is not true” .

Turki noted that “currency auction is a move by the central bank in a series of monetary policy actions, but procurement and import and export tracking the needs of the market and traders not linked to the size of the daily sales of the bank.”

And regulates the Iraqi Central Bank auction of five meetings a week from Sunday to Thursday every week for the sale and purchase of foreign currency, and receive a commission for cash sales and transfers of about 13 dinars per dollar, while the experienced sessions since the beginning of this year, a significant decline in the amount of currency sold in the auction.