CBI: we have three times the needs of the Iraqi market in hard currency

CBI: we have three times the needs of the Iraqi market in hard currency

05/02/2012 15:39

 Baghdad, February 5 (Rn) – The Central Bank of Iraq, Sunday, what is available for hard currency has more than three times the needs of the Iraqi market, indicating that the Bank is exposed to “rumors” media are meant to destabilize the national economy.

And saw the price of the dollar relative to local currency increased during the past few days, which he attributed Officials companies banking local to stop the central bank sales of foreign currency. and picked up local media for widening the sale of hard currency to Iranian businessmen at border crossings, especially in the province of Maysan, which unless confirmed by the Central Bank of Iraq. Deputy Governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn), “We have been an economic strike, the Iraqi dinar semi-hard currency now, and available at the Central Bank of the hard currency outweigh the needs of the Iraqi market three times.” said Mohammed that ” There is a media campaign directed against the Iraqi economy, we do not know their origin or motivation, but we are watching. “he said.  He described the Vice-President of the Bank are traded in the media to stop the bank to sell foreign currency or the smuggling of currency out of the country to “bubble policy”, noting that “the Central Bank of Iraq is interested primarily economic security.”  and works the Iraqi Central Bank in accordance with Law No. 56 of 2004, and held five meetings a week in the daily auction public for the sale of foreign currency.  The main tasks of the Bank to maintain price stability, and the implementation of monetary policy, including policies exchange rates, management of foreign currency reserves, and the issuance of currency management, as well as to regulate the banking sector. From: Haidar Ibrahim, RN LLC
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