Iraq: a proposal to sell the currency not limited to specific companies

Iraq: a proposal to sell the currency not limited to specific companies

13/08/2012 15:06

Baghdad, August 13 / August (Rn) – The Finance Committee representative Monday it had submitted a proposal to the Central Bank of Iraq requires not limited to sell the currency in daily auction companies specified, indicating that the process of inventory sales companies limited lead to a monopoly of hard currency. saw the Iraqi dinar exchange rate fluctuation during the  previous round, attributed the central bank to the procedures taken by the to prevent the smuggling of currency out of the country in what bankers and managers of companies to banking, the Bank put Chorta impossible to participate Bmzadeh. A member of the Commission secretary Hadi, told the Kurdish news agency (Rn) that “the Commission proposed to the Central Bank of the expansion process expansion of outlets selling hard currency and not to make a specific number of companies, fearing that it holds a monopoly on currency. ” Hadi said that “the proposal, which offers to distribute the dollar on all the provinces by giving ten banks in each province to enable them to sell the currency,” noting that “the proposal if implemented would have been to maintain the exchange rate. “He said, “the Iraqi Central Bank sold dollars at a certain price in the market is sold at prices other additional,” noting that “the beneficiaries of the sale of hard currency are the owners of large capital.” came measures the central bank to back of rising demand in unprecedented to buy hard currency in the daily auction of the bank, which arrived in demand nearly $ 450 million a day, a figure he says about the central raises doubts.The main task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and management of reserves of foreign currency and the organization the banking sector.  From: Raman Brosk. Open: Murtaza Yousuf

Source: aknews