Central Bank of a plan to stabilize the exchange rate of the dinar against the dollar

Member of Finance Committee: Central Bank of a plan to stabilize the exchange rate of the dinar against the dollar
On: Saturday 14/07/2012 11:06

Baghdad (news) .. Announced by the Finance Committee MP / National Alliance / Faleh applicable, a plan to keep the Iraqi dinar exchange rate, reference the reasons for the increased demand for the dollar during the last period to the international economic sanctions imposed on Iran and Syria.
and said in effect (of the Agency news) on Saturday : There are many factors that made the U.S. dollar exchange rate increases in front of the dinar, which increased government spending and generated by the increase in the budget year, and exposure of Iran and Syria to the UN economic sanctions make them desperate need of dollars. He pointed to: that economic sanctions imposed on Iran and Syria, after a lot on the stability of price dinar exchange they come either to buy dollars directly from the market or import of goods from the Iraqi market, such as materials of construction or industrial, which make the Iraqi trader accepts to buy dollars for import of goods once again, increasing the demand for it. He added that the central bank has a plan to preserve the value of the Iraqi currency include the continued sale of hard currency in the auction as well as opening many outlets to sell the dollar, both in government and private banks or in the ports bypass the other, with the increase in the amount of currency sold under certain conditions to create a balance between volumetric supply and demand. has allowed the Central Bank’s (25) private banks to sell dollar, according to certain controls, and gives each bank a week million and (250) thousand dollars at the (1179) and sold to citizens at (1189) that the ratio of profit for banks (10) dinars. comes a central bank to create a balance between the amount of currency on offer and the increasing demand them to maintain the value of the dinar against the dollar, in time, which is still the exchange rate ranges between (1240 – 1250) dinars per dollar. / Finished / 8. d. Q /
Source: ikhnews