CBI INFO & IRAQI DINAR NEWS

Central Bank says that he seeks to install the exchange rate to 1189 Iraqi dinars to the dollar

Central Bank says that he seeks to install the exchange rate to 1189 Iraqi dinars to the dollar

26/05/2012 10:56

Baghdad, May 26 (Rn) – The Central Bank of Iraq, Saturday, that the goal of monetary policy is to maintain and keep the Iraqi dinar exchange rate against the dollar by 1189, indicating the stability of the exchange rate in local markets after the expansion of outlets selling the dollar.

Parliamentary Finance Committee: Increase the points of sale of foreign currency value of the dinar patches

Parliamentary Finance Committee: Increase the points of sale of foreign currency value of the dinar patches

Babylonian News / Baghdad
Friday, 25/5/2012
Said the Finance Committee representative that its proposal submitted to the Central Bank of Iraq on increasing the number of agencies responsible for the sale of foreign exchange (banks, Rafidain and Rasheed), which was applied during the last few days, contributed to raise the value of the Iraqi dinar against the U.S. dollar.
and approved the Central Bank of Iraq earlier in the presence of defect in the Iraqi dinar exchange rate, and Read more…

Iraq Central Bank to sell Dollars facing Iraqi Dinar depreciation

25-05-2012 – 05:47
In a series of measures to face Iraqi dinar depreciation facing the Dollar, Iraqi Central Bank authorized Al Rafidain and Al Rashid governmental banks to sell the Hard Currency in direct auctions in order to provide larger quantities of Dollar and fulfill increasing demand thereof. Our new measures helped increasing Iraqi dinar exchange rate which is expected to become stable in the few coming days, Deputy Governor of Iraqi Central Bank revealed. Read more…

Deleting the zeros depends on the CBI’s control over the dinar exchange rate; Calls for adoption of new monetary policies before implementation

FRIDAY, MAY 25 / MAY 2012

Confirmed to the parliamentary Finance Committee, on Friday, that the implementation of the project to delete the zeros of the Iraqi dinar currency and restructuring depends on the extent of control and control of the Central Bank of the exchange rate of the Iraqi dinar against the dollar, as called for the adoption of new monetary policies before the implementation of the project. Read more…

Increase in Iraqi dinar value is due to central bank’s regulatory procedures, says parliamentary committee

BAGHDAD, May 24 (AKnews) – The Iraqi parliament’s finance committee stated yesterday that applying its proposal submitted to the Central Bank of Iraq (ICB) about increasing the number of agencies responsible for the sale of hard currency has contributed to raising the value of the Iraqi dinar against the US dollar. The presence of Rafidain and Rasheed banks has increased the number of agencies responsible for the sale of hard currency.

Finance committee member Hadi Amin said: “This action contributed to raising the value of the Iraqi dinar against the dollar and the central bank will keep, in its procedures, the stability of this state.” Read more…

CBI: It is not our duty to prosecute traders and smugglers

BAGHDAD / Baghdadiya News / .. I consider Central Bank of Iraq, Wednesday, mechanisms for the prosecution and the arrival of the goods until the final users, they fall outside the scope of his powers.

The central bank said in a statement and received / Baghdadiya News / copy of it, that “the auction of hard currency which is conducted by the Bank became funded many operations, import,” noting that “Auction currency is a tool of monetary policy the central bank to achieve the principles and fundamentals of the policy and objects of multiple”. Read more…

CBI confirms a 4% reduction in dinar exchange rate

CBI confirms a 4% reduction in dinar exchange rate   Central bank announced a reduction of teams dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the market and make the dollar worth 1000 dinars.   The deputy governor of the Central Bank of the appearance of Mohammed “Alsumaria News” The bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period, “asserting that the bank seeks to reduce the difference to 2%, which is typical spreads in the countries the world and accepted in the difference of price. Read more…

Parliament: the smuggling of foreign currency abroad contributed to the reduction of the dinar exchange rate

On: Friday 5/25/2012 3:07

 Baghdad / range 
revealed the decision of the Economic Commission Deputy Mahma Khalil smuggling operation (4) billion dollars to one of Iraq’s neighboring countries through dealer under the pretext of importation of certain goods in the month of April, which led to the increase in the exchange rate of the dollar against the Iraqi dinar. Khalil said, according to ( Agency news) on Wednesday:

There are signs of smuggling (4) billion dollars to one of the countries of the region surrounding Iraq in April last by a person who has promoted transactions and fake pretext that he imported goods containing electronic devices (TVs, computers), noting that the funds came out without receipt of any goods to the country. He added that the hard currency out of the country Read more…

Central Bank confirms the reduction of teams dinar exchange rate to 4%

On: Friday 5/25/2012 5:40

 Baghdad / term 
central bank announced a reduction of teams dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the market and make the dollar worth 1000 Iraqi dinars. The deputy governor of the Central Bank of the appearance of Mohammed “Alsumaria News”

The bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period, “asserting that the bank seeks to reduce the difference to 2%, which is typical spreads in the countries the world and accepted in the difference of price.

Saleh added that the bank Read more…

MPs Push for Removal of Zeros on Iraqi Banknotes

ERBIL, Kurdistan Region- Kurdish members of Iraqi Parliament’s Finance Committee have denied that there is currently any proposed law regarding the removal of zeros on the Iraqi banknote.

Ahmad Faizulla, an MP from the Kurdistan alliance in Iraqi parliament and member of the finance committee, dismissed claims that their committee has prepared and drafted a law to alter the currency. Read more…

Central Bank reveals attempts to make the 1000 dinars equivalent to one dollar

May 24, 2012 (CNH) An official source at the Central Bank for the open windows of selling the dollar in the Rafidain and Rasheed played down the low exchange rate of the dinar against the dollar to four percent, compared to teams exchange rate two weeks ago, hoping to up the difference to two percent on the price the auction. Read more…

Economic Info Center spokesman: Need two years to adapt ISX systems to currency reform plan

Baghdad (newsletter) … Head of economic information centre, Ali dargham project delete three zeros Iraqi currency will affect Iraq market for securities, stating that he needed two years to adapt to the new system.   Ali (News Agency news) on Thursday: draft deleted three zeros of the Iraqi dinar will affect the Bourse index replaced hand “dinars” to “money”, Read more…

CBI will require foreign banks applying for an Iraqi charter to open with $170 million

BAGHDAD – Al Sabah said the central bank decided that the requirement of the opening of branches of foreign banks with a capital of $ 170 million.

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh (News Center for the Iraqi Media Network) that “the condition of the opening of the Central Bank foreign branches in Iraq, with a capital of $ 170 million. Read more…

CBI suggests GOI form joint committee to study the deletion of zeros from the currency

gave the central bank, yesterday, a proposal to form a joint committee shall study the decision to delete the zeros from the currency.

The deputy governor of the Central Bank of the appearance of Mohammed’s “Centre news for the Iraqi Media Network” yesterday: The proposal, sent to the Government for the formation of a committee to study the application of the decision to delete the zeros from the currency, comprising representatives of the Central Bank of Iraq and the Council of Ministers and Vice specialists from Parliament. Read more…

The return of the dinar to trade after the global coverage by $62 billion

economist said that the dinar returned to the circulation of a new global financial markets for covering cash reserve of 62 billion dollars.

said economist at the Ministry of Finance Crescent Taan to increase oil production and rising gross national product of Iraq ahead with great support of the Iraqi dinar, Read more…

CBI calls for economic reform for the country and reduce dependence on government

Erbil, May 23 / May (AKnews) – The head of the Central Bank of Iraq Shabibi today that the Iraqi economy needs to be reformed to reduce its dependency on the government, where you should pay more attention to non-oil sectors of small, he said, adding that he does not need to encourage the private sector.

The network quoted France24 French, quoting Shabibi, who heads the organization since the mid-2003 as saying: “We rely entirely on the government to provide employment opportunities, and the provision of development (…) where there are a lot of people think that the development of non-oil sector will take a long time, Perhaps the easiest way to go. Read more…

CBI’s Saleh: Dropping zeros from currency represents progress, freedom, and propserity

Central: Open the windows of the Rafidain and Rasheed reduce the exchange rate of the dinar against the dollar to 4% 23/05/2012 PM

Reduced the open windows of selling the dollar in the Rafidain and Rasheed of the low exchange rate of the dinar against the dollar to 4 percent, compared to the exchange rate difference of about two weeks ago.

He was a senior official at the Central Bank in the hope that the difference up to 2 percent on the price of the auction.

The two banks will sell each citizen Aovernmaan 10 thousand dollars up to a maximum.

The central bank announced yesterday, the largest direct banks in Iraq to sell one U.S. dollar for the citizens at 1189 dinars. Read more…

Shabibi: The government is expanding too; CBI calls for laws to restrictions on the private sector

As stressed by Prime Minister Nuri al-Maliki “the need not remain the Iraqi economy dependent on oil revenue only.” However, he did not take away to put forward a true vision when stressed his government’s determination to work “to invest our revenues oil that meet the increasing rise in the development of other sectors in order to reach a diverse and stable economy is not subject to the requirements of oil and gas prices.”

In the meantime, see the Governor of Central Bank of Iraq that Iraq needs to reform its economy by reducing its dependence on the government, in parallel with greater emphasis on non-oil sectors in the country are oil money 94% of revenues. Read more…

Iraq: the high value of the dinar against the dollar after the regulatory action

Baghdad, May 23 / May (Rn) – The Finance Committee representative on Wednesday that its proposal submitted to the Central Bank of Iraq on increasing the number of agencies responsible for the sale of hard currency (bank Rafidain and Rasheed) which was applied during the last few days has contributed to raise the value of the dinar against the U.S. dollar . Read more…

CBI: our goal to reduce prices and raise the value of the dinar

An official at the Central Bank of Iraq that “the goal is to reduce the Bank’s President and response rates of inflation.”

The deputy governor of the Bank Mazhar Mohammad Saleh said that “The objective of the Bank President is to reduce prices and to address inflation,” noting that “the Bank seeks to raise the value of Iraqi dinar exchange rate in proportion to the surplus in the balance of payments of Iraq and especially the current account that a surplus of the 8 to 10% of the gross domestic product. “ Read more…