Economic Commission Decision: The Central Bank pumped huge amounts of dollars to maintain the value of the dinar in front of him

On: Wednesday 05/30/2012 12:06

Baghdad (news) .. According to decision of the Economic Commission deputy / Kurdish coalition blocs / Mahma Khalil, that the central bank gave powers to the banks, government business for the sale of hard currency in addition to the auction to inject large amounts of dollar in the market to maintain the value of the Iraqi dinar. 
Khalil (of the Agency news) said on Wednesday: The Central Bank is the main reference for the Iraqi banks and obliges it to apply fiscal policy, and as a result of increasing the value of the dollar against the Iraqi dinar during the recent period, he decided to Central to give authority to sell hard currency to the Rafidain and Rasheed to keep the Iraqi dinar exchange rate. He added that the Central Bank sells currency as well as public auction to inject large amounts of hard currency in the domestic markets and increase the value of Iraqi dinar against the U.S. dollar, noting that it successful way to keep the dinar exchange rate, provided that the applied according to procedures well thought of by not tolerant to the exit of foreign currency of the country for the purposes unnecessary. He explained: that the Central Bank is an independent body financially and administratively and responsibilities linked to the Council of Representatives and the policy respectful of everyone because it contains a selection of financial experts and the possibilities of high transparent and clear, so can not the CBI in these unstable conditions experienced by the national currency to abandon its auction public fully to a commercial banks in Iraq. / Finished / 8. d. Q /

Source: ikhnews