Central bank: 288 billion dollars sales volume of currency auctions since 2003 until now
Central bank: 288 billion dollars sales volume of currency auctions since 2003 until now
05.03.2014 (0:01 pm)
Baghdad / Acer Jabbar
Revealed the special bulletins Iraq’s central bank, issued most recently this week, the bank sold more than 228 billion dollars since the start of sessions currency auction in 2003, and so far, showed releases that the commissions earned by the bank of those sales ranged between 3 dinars per dollar, and 24 dinars .
shows and special bulletins containing the bank details of the currency auction, and seen by the (long-Presse), “The auction sales since its first session, in (the fourth of October 2003), and even today, more than the 288 billion dollars.” According to those releases that “the commission of the bank as a result of these operations varied according to the sale price of remittances or cash because each has its own character from the start of three dinars per dollar in 2003, down to 24 dinars.” The Iraqi central bank held an auction of six sessions per week, to regulate the sale of currency, start from Saturday to Thursday. The International Monetary Fund, said in a report issued in (the 21 of March 2013 the past), after the end of consultations in the Jordanian capital, Amman, between a delegation from the Fund and the Iraqi delegation headed by Minister of Planning Ali Shukri, and seen it (the long-Presse), that the improvement occurred in the financial sector, but stressed that the sector still need to be “greater efforts by the central bank to revise the monetary policy instruments and strengthen banking supervision, and to accelerate the restructuring of the banking system.” He called on the International Monetary Fund Central Bank of Iraq to “take measures towards a gradual liberalization of foreign exchange offer through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the year 2013.” UNFPA emphasized that “the establishment of a banking system nationalist requires the abandonment of the current model, which is controlled by the weak banks owned by the state, which enjoys preferential treatment distinguish them from private banks,” calling on Iraq to do to strengthen its institutions of public finances to ensure efficiency and transparency in the use of oil revenues. “And was a member of committee of economy and investment parliamentary Aziz Sharif Mayahi, was charged in (the 12 of February 2014), the central bank to take action weaken the dinar against the dollar, warning call its governor Abdel Basset Turki, the parliament in the event of the continuation of that policy “suspicious.” as promised Association Chirvien Iraqis , in (the 26th of February 2014), that the central bank’s decision inventory distribution outlets of foreign currency in banks own, contrary to the principle of the free market, and lead to a monopoly of foreign currency, and disrupts the movement of goods, and appealed to the bank to reconsider its decision. mentions that a number of owners of companies banking, financial, criticized in (the third of December 2013 the past), tough measures pursued by the central bank and the routine which controls procedures, and argued that they can not approach the office of any employee to ask about the fate of their transactions, and that the Bank lacks regulations in its dealings, and what puts him instructions and controls “and the harsh injustice.”
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