Economic Parliamentary dinar will recover against the U.S. dollar

07/04/2012 11:38

Baghdad, “Iraq’s gate,” Mohammed Sharif

Economic Commission affirmed the decision in the House of Representatives, said on Saturday that “the dinar will recover against the U.S. dollar across a range of measures to be taken.

He said Mahma Khelil told state television the Iraqi response to a question about the likelihood of the survival rate of the dinar to what it is now in front of the U.S. dollar, that “the dinar will recover against the U.S. dollar across a range of measures to be taken by the Iraqi government and by the Central Bank of Iraq as the highest monetary authority “.

He pointed out… that among these measures and the restructuring of the dinar currency switch next to the other measures taken by the government and the central bank to control the market. “

He commended the Commission’s decision on the economic measures the central bank to control the market and prevent the smuggling of currency by requiring participating banks to disclose the daily auction for its customers as a condition for the participation of the auction. Stressing that these measures contributed to the reduction of smuggling currency, but they have contributed to increasing prices, however, he called Ba procedures more realistic, he said.

Sales of Central Bank of Iraq at the end of the meetings of the auction for the sale of foreign currency, on Thursday, largely recorded $ 54 million, compared to 90 million the previous meeting, at an exchange rate based on 1166 dollars for every dollar.

The bulletin issued by the Central Bank received a “gate Iraq,” a copy of which the total volume of demand on the dollar stood at 54 million and 757 thousand dollars, covered by the central bank at an exchange rate basis was 1166 dinars to the dollar. “

The sales of Thursday’s session declining significantly from a meeting last Tuesday, which exceeded $ 238 million, and Wednesday’s session exceeded the amount of $ 90 million.

Sales of Central dramatically since early February current, compared with the end of 2011 and the month of January last, and which averaged about 200 million of the session, after the increase in demand than ever, because of the sanctions imposed on Iran and Syria and the decline in exchange rates Altoman and pound to a half.

Called the central bank to tighten foreign currency sale to private banks are required to disclose the clients of the applicants purchase, according to the instructions adopted at the first of February 2012, and ratified the instrument on the use of a single customer for the purposes of tariff.

To return the central and emphasizes procedures for the sale of money orders on Wednesday, and declares it responds to the orders, but the existence of accountable tax year, and official documents to prove that the money is going to trade already, bringing the dollar exchange rate locally surprise for up to 1,260 dinars per dollar, after it was at 1240 dinars per dollar.