CBI begins restructuring auction

Baghdad, April 26 / April (Rn) – The Central Bank of Iraq, Thursday, for he began to restructure the public auction and the development of financial dealings and improve the performance of its employees, denying at the same time cancel or convert it to a commercial bank last.   Deputy Governor of Central Bank of Iraq appearance Mohamed Saleh, told the Kurdish news agency (Rn) that “the central bank decided to restructure the work of the auction and the development of financial dealings with customers and improve the performance of its employees are compatible with the challenges of the future to the process of selling the currency.”

Saleh added that “the central bank did not decide to never cancel the auction or conversion process of selling hard currency to another bank of banks that are supervised by the Central Bank. ” and pointed out that “some businessmen are trying to broadcast rumors to raise the price of the dollar against the Iraqi dinar, which affects the economic security of Iraq.”   and saw the price of the dollar relative to local currency increased by the last few days, attributed the company owners banking local to stop the central bank to sales of hard currency.   and picked up local media reports about the widening phenomenon of smuggling hard currency from Iraq to Syria and Iran through the border crossing points, did not confirm the CBI that. According to experts in the Iraqi economy that the conversion of the task of selling the hard currency from the central bank to state bank may not resolve the problem once and for all.   and mission of the Iraqi Central Bank is to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and regulate the banking sector, while The Committee emphasizes the parliamentary financial support to any efforts presented by the Central Bank of Iraq would lead to the stability of the final outturn exchange market.