The devaluation of the Iraqi dinar exchange rate caused by the actions of the Central Bank
A member of the Finance Committee: the devaluation of the Iraqi dinar exchange rate caused by the actions of the Central Bank
Date: 03/10/2013 11:42:58 Sunday
Baghdad (news) .. Warned a member of the Finance Committee MP / National Alliance / Amin Hadi Abbas, the continued reduction of the exchange rate of the Iraqi dinar against the U.S. dollar in the coming period as a result of actions of the Central Bank to sell foreign currency.
Abbas said (of the Agency news): that the reason for reducing the value of the dinar during the current period due to the complicated procedures followed by the Central Bank of the sale of hard currency in the auction, calling for easing measures sales to meet the needs of the market from the dollar.
He added: that the central bank adopted new instructions to banks and banking companies for their involvement auction for the sale of hard currency and equipped to the dollar, as well as determine the size of remittances, making there is an increasing demand for the dollar in the market.
He continued: must Directors of the Central Bank easing measures sell currencies in order not to create a new crisis in the sale and purchase of the dollar in the auction.
This witness the exchange rate of the Iraqi dinar relative decline against the dollar.
Have complained a number of banks and banking companies of the central bank’s measures to sell hard currency. / End / 8.. /