Central Bank says that he seeks to install the exchange rate to 1189 Iraqi dinars to the dollar

Central Bank says that he seeks to install the exchange rate to 1189 Iraqi dinars to the dollar

26/05/2012 10:56

Baghdad, May 26 (Rn) – The Central Bank of Iraq, Saturday, that the goal of monetary policy is to maintain and keep the Iraqi dinar exchange rate against the dollar by 1189, indicating the stability of the exchange rate in local markets after the expansion of outlets selling the dollar.

acknowledged the CBI month the current existence of an imbalance in the Iraqi dinar exchange rate and confirmed his quest to unify the exchange rate between him and the local markets and denied at the same time any deterioration of the value of Iraqi dinar. The central bank was accused last week of four states to “conspiracy” to hit the financial economy of Iraq to empty its market of financial strength , indicating that the corridors of free trade in Iraq is becoming the means adopted to hit the economy. saw the price of the dollar relative to local currency increased during the last few days, which he attributed Officials companies banking local to the central bank from making further action in the auction sale of hard currency.Deputy Governor of Bank of the appearance of Mohammed, told Kurdish news agency (Rn) that “the central bank proved Iraqi dinar exchange rate against the dollar to 1189 Iraqi dinars to the dollar after adding a commission bank 13 Iraqi dinars and profit banking companies ten Iraqi dinars to the dollar.” He explained that “the Central Bank sells dollar to 1166 Iraqi dinars,” expected “to resolve the phenomenon of depreciation of the dinar against the dollar in the coming period. ”  The Deputy Governor of the Bank by saying that “the bank is selling now $ 200 million, per day, a large amount covers the needs of the market and the Bank began to expand outlets to sell to cover bank Rafidain and Rasheed.” and picked up local media reported widening the phenomenon of smuggling hard currency from Iraq to Syria and Iran on the border crossing points which unless confirmed by the Central Bank of Iraq. and subject Iran because of its nuclear program and Syria as a result of public protest to international sanctions harsh and exposed markets both countries to collapse economically because of poor cash flow of hard currency. The main task of the Bank CBI to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector. From: Raman Brosk, the Open: Peace Baghdadi 
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