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

Baghdad, August 13 / August (Rn) – The parliamentary Finance Committee Monday it had submitted a proposal to the Central Bank of Iraq requires not limited to sell the currency in the daily auction of specific companies, indicating that the process of selling companies limited inventory leads to the monopoly of foreign currency.

Saw the Iraqi dinar exchange rate fluctuation during the last stage the central bank attributed to the procedures taken to prevent the smuggling of currency out of the country in what bankers and managers of the banking companies that the bank put Chorta Bmzadeh impossible to participate.

A member of the Commission secretary Hadi, told the Kurdish news agency (Rn) that “the Commission proposed to the central bank to expand the process of expanding outlets for hard currency and not to make a number of specific 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 “if the dish would have been proposed to maintain the exchange rate.”

He continued that “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.”

The central bank action came against the backdrop of rising demand in an unprecedented way to buy hard currency in the daily auction of the bank and demand that reached nearly $ 450 million a day, a figure he says raises doubts about the Central.

The main task of the Iraqi Central Bank 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.