Central bank: We will reduce our sales to the dollar by 50% for the current year

Central bank: We will reduce our sales to the dollar by 50% for the current year

Wednesday, 23 March 2016 10:15

Central bank - We will reduce our sales to the dollar by 50 percent for the current yearAlsumaria News / Baghdad
Iraqi Central Bank revealed on Wednesday he would cut sales of the dollar by 50% for the current year 2016, at a time pointed to the necessity of taking into account supply and demand, he confirmed that the sale of the dollar is a result of the import of all things from the outside.

The governor of the bank on the Keywords in a program of “10 for 11″, which was aired by Alsumaria, ” The rationing is located at the bank to sell the dollar during the auction conducted by where we started to cut these sales in 2015, which amounted to 25% compared to the previous year . ” noting that “the year 2016 perhaps we will reach this sales decrease by 40 to 50% from the previous year.”

Keywords and continued, “There codification and gradual within certain procedures, because monetary policy can not follow the sudden policies,” adding that “the Bank of duty into account supply and demand, the form in which there are no imbalances.”

He Keywords that “the bank is focused on selling the dollar because all things imported and even the simple result of the lack of a production base covering demand,” and expressed hope that “leads the current crisis to correct these things through the expansion of the productive base of the country and which was attended by the bank through the launch of the initiative important to promote this sector through project financing and lending. ”

The governor of the central bank on the Keywords announced (March 3, 2015), that the new guidelines set by the bank, stipulates that the auction is no longer a daily window for operations for the sale of currency auctions, noting that the new mechanisms developed to sell this currency, especially that of its functions to provide currency for trade Foreign Affairs.