Finance Committee suggest the ability of Trade Bank of Iraq take currency auction

04/26/2012

BAGHDAD / JD / .. revealed the parliamentary finance committee a new step the central bank to implement an auction sale is handed over to a hard currency Iraqi banks, weighted assume Trade Bank of Iraq this auction. A member of the Finance Committee, the Parliamentary Secretary Hadi Abbas’s / JD / “The Central Bank of Iraq plan to give banks a good Iraqis and the Iraqi Trade the responsibility of selling the dollar auction.” Abbas said, “The central bank wants to get rid of the burden fluctuation of the dollar, especially after it became the demand for the dollar than too few.” And Abbas, “The demand for the dollar from the central bank declined because of the difficult actions taken by the bank and increased it worse.” He pointed out that “the Trade Bank of Iraq is probably that will be an auction sale of the dollar because it has a good mechanism”, citing an interview with officials at the bank that they have the possibility to buy a large amount of dollars. “And the seal member of the Knesset Finance” This step solved the problem of fluctuation of the U.S. dollar and work on this procedure uncertain. “/ ended / 11 n

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