CBI: We will not retreat from the application of our instructions, even if stopped selling foreign currency
CBI: We will not retreat from the application of our instructions, even if stopped selling foreign currency
14/02/2012 12:12
Baghdad, February 14 (Rn) – The Central Bank of Iraq, Tuesday, he did not back down from the application of the new instructions issued by the private and the sale of the difficult process of the Iraqi market, even if it was stopped daily auction, while stressing that the procedures imposed by the came on the back orders are not natural. The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) that “the Central Bank of Iraq sells foreign currency to the Iraqis only and sales are not intended for non-Iraqis,” asserting that “the Central Bank of Iraq will not back down from the application of procedures for the recent sale of foreign currency even if the stop the Bidder daily. “ said Deputy Central Bank of Iraq that “Iraq Yun current account of balance of payments and this commitment to the agreement of the IMF Article VIII, but at the same time editing the account does not mean loose the market, but are no controls are called market discipline being applied.”“We scrutinize money of people who deal with the central bank under the law of money laundering and money, crime and terrorism, this law issued in 2003, (…) the market was stable, with sales of between 150-160 million dollars, but we noticed during the past three months, started applications increasing every day so that the Iraqi market is not accommodate such requests for goods and services, and arrived in a few days to $ 450 million, a phenomenon is normal and we did not NLP so requests. ” and that “the Central Bank and after checking the requests found that most of the names of strange and requests for incomplete Securities fundamentalism, so we reject the requests and demands that do not reproach them. ” He said.saw the price of the dollar relative to local currency increased during the past few days which is attributed by officials of 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 unless it is confirmed by the Central Bank of Iraq. From: Haidar Ibrahim, RN peace Baghdadi