CBI reveals issuing currency class 100 thousand dinars soon!!!

CBI reveals issuing currency class 100 thousand dinars soon


Palm – central bank adviser said the Iraqi “appearance of Mohammed Saleh” that the Iraqi currency need to expand and we will issue a currency class 100 thousand dinars.

Saleh added in a press statement that the central bank examines the idea of restructuring the currency in terms of specifications and forms so we will issue new categories of currency have the ability to shorten quantities large financial aid, pointing out that dealing continued use of $ 100 is the biggest proof of the urgent need for the currency this Size.

And between Saleh, said that the process of lifting the zeros need time and formal approvals from the government and parliament, adding that currently is not Muhio to delete zeros from the currency.

He continued in favor of measures that reduce cash sales in its daily auction for the sale of foreign currency as of this week, revealing that speculators were behind the rise in the exchange rate locally for quick profit.

The CBI stressed procedures followed for sale cash during the last period, on condition the banks brought legal documents at the request of foreign exchange, what hindered its work and importers of goods and commodities in and explained that the Central decided to cut the proceedings at the request of documents within a week of receiving cash, as can private banks common in foreign currency auction request foreign exchange at any time and the exchange rate was exceeded 119 thousand dinars per hundred dollars last week, after it had been below 118 thousand.

Saleh pointed out that the sale remittances outside Iraq allowed for commercial purposes, and according to legal documents, as citizens can transfer money to pay fees for university students outside Iraq or for medical treatment and for other purposes, not inconsistent with the anti-money laundering law.

The drawer CBI to hold an auction of five sessions per week for the sale or purchase of foreign currencies, and receive cash from the sale of 13 dinars per dollar commission, and 13 dinars per dollar for the sale of remittances outside Iraq.

This hand central bank governor said the former Iraqi “Shabibi” earlier on the composition of foreign reserves to support the value of the Iraqi dinar reached fifty billion dollars, noting that the Iraqi dinar is stable currencies in the region.

He explained in his speech that the CBI sought Bmlake high national and expertise to develop a coherent monetary policy and rational achieved financial stability in the country, pointing out that the only party in Iraq that are unique in the production of a public good directly to maintain the purchasing power of the Iraqi dinar.

He Shabibi to achieve these results in very harsh conditions the Bank’s exposure in which to terrorist acts, and although it did not shake the will of the workers and continued to work to make the bid, saying that the issue of the reserve, or cover currency comes at the request of the government and the Ministry of Finance, stressing the importance of the size of the reserve support the currency in circulation, because the affected reservists will impact on the fiscal balance.