Bantrza source: punish financial firms impact on the dollar and raise the sales price Extended
Bantrza source: punish financial firms impact on the dollar and raise the sales price Extended
05/19/2016 14:01
{Baghdad} Euphrates News attributed the source at the Central Bank of Iraq, the high price of the dollar against the Iraqi dinar, to the lower central bank sales of foreign currency which causes punish some financial companies and the denial of participation in the auction currency.
The source told {Euphrates News}, said that the rise in the dollar against the Iraqi dinar, a return to the “low central bank sales of the dollar in the auction for the sale of foreign currency, because the supply does not meet demand, which means that demand is more than supply.”
He added that ” Bank procedures, in the recent period with the banks and the banking and financial transformation, becoming harsh in terms of sanctions, which include the denial of entry of an auction of foreign currency sale for a month with the approval of the governor, which affects the sales of the bank as there became a shortage, lack of corporate income to the auction leads to a lack of width dollar. ”
the source explained , ” it was to deprive many companies to participate in the auction, based on the penalties to be applied from the central bank for violating the directive, as there are companies dealing with Daash according to what came to us from the information, has been deprived of the auction to further notice until the check that its dealings with Daash in funding be returned to the auction. ”
He noted , ” the economic recession, lack of confidence in dinars and preference citizens retained instead of the dinar to the dollar because of the ease keep it, leads to a rise of the dollar against the dinar. ”
and recorded the currency markets a remarkable increase of the price of the dollar against the Iraqi dinar, as the price of the currency reached US $ 100 bills to 129 thousand Iraqi dinars.
he was a member of the parliamentary Finance Committee Sirhan Ahmed, explained on the ninth of this May, for {Euphrates News} ” the low central bank sales of the dollar led to rise against Iraqi dinar. ”
Ahmed said,” the central bank sales of the dollar fell, and thus caused this decline to the rise in the dollar against the Iraqi parents, “appealing to the central bank to raise larger amounts of dollar in the local market, adding that” the rise of the dollar against the Iraqi dinar would negatively affect on the Iraqi economy. ”
the Governor of the Central Bank and the agency on the Keywords, announced on 23 March last, about the bank ‘s intention to reduce sales of the dollar by 50% for the year 2016 this, stressing the need to take into account supply and demand.
Keywords and said in a televised interview, said that “rationing is the bank’s dollar selling by auction conducted by, where we started to cut these sales in 2015, which amounted to 25% compared to the previous year , ” pointing out that “the year 2016 perhaps we will reach this sales decrease by 40 to 50 % from the previous year , “.anthy 1
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