Central increases the size of the sales of the dollar

Central increases the size of the sales of the dollar

5/10/2016 0:00

US Dollar-Iraqi DinarBAGHDAD / Hussein Tgb – Farah pumice
raise the Iraqi Central Bank auction sales volume of currency to touch the local market need and the increasing demand for the dollar, and said the country ‘s financial situation is reassuring. The head of the financial operations of the Central Bank d. Mahmoud Mohamed in an interview for the “morning”, said one of the processors adopted by the Central lifted the sales volume to cover the shortfall due to public holidays , which was one of the reasons for the high dollar prices in the local markets as the currency auction stopped on holidays.
Saw the domestic market during the last period rising prices exchange for touching the barrier of 1310 dinars against the US dollar.
he noted that such a mechanism that will make the difference at the price between the central and local markets close one , despite the fact that the central aware that the size of the demand is greater than display currency auction.

Rezin reserves
and between Muhammad that with the presence of a large demand for the dollar in the markets , there will be
teams acceptable, indicating that the central bank ‘s reserves sober and Mtinh enables central to face any crisis may face.
He pointed out that the reserve is to confront the crisis and is owned by the Central higher than the expectations of the international Monetary Fund reserves , despite the many challenges and this is a positive thing calculated to the bank CBI and the economy.

need markets
to the Executive Director of the Association of Iraqi private banks Ali Tariq said that the continued demand for the dollar is the main reason for the rise in prices, indicating that this request stems from the need of the domestic market for goods and goods required by and you get Akiemha cross – currency auction.
he the Association is following the reality of currency rates in the domestic market , and is working with the relevant authorities on an ongoing basis to make a difference acceptable price in the domestic market, noting that the movement of funds in Iraq is going high smoothly and reassuring to a large extent.
he said that private banks to enter the auction currency based on need markets
of the US dollar, where requests are made to the Central amounts required and then is secured
these amounts correct direction distant
from the manipulation that may accompany such

official pricing
also stressed the economic expert , Dr. appearance of Mohammed Saleh in an earlier statement to the “morning” correct path and the value of the Iraqi dinar good prices in line with the economic situation faced by the country, returned to official pricing of the dinar against the dollar is unrealistic in the current circumstances. The central bank action has been taken in the past year based on the formats with the government to stop the decline of the dinar against the dollar in the local foreign exchange market, by doubling the share exchange companies in auctions selling foreign exchange, and open ports to sell the dollar in the state banks are (Rafidain and Rasheed , and the Iraqi trade) corporate and small importers.

balance of payments
and noting the “morning” that the central bank reserves , which covers currency in circulation as much as time and a half, with a surplus in the balance of the Iraqi payments, but the current situation has changed from the previous decline and volatility of global oil prices, as the price of a barrel generator of foreign currency for Iraq about $ 46, which led to a shortfall in the current account of the balance of payments of Iraq. And Saleh , said the presence of the deficit in the current account of the balance of payments can not be dealt with official Baltsairh itself followed the dinar against the dollar, leading to a depletion of foreign currency.