The dollar auction at the central bank depends on Saturdays since three weeks

The dollar auction at the central bank depends on Saturdays since three weeks

7/4/2015 6:03 p.m.

The dollar auction at the central bank depends on Saturdays since three weeks[Baghdad-where]
auction sale of foreign currencies, including the dollar stopped Album Saturday for the third straight week, according to the decision of the Central Bank of Iraq on 16 June last.
Bank did not say in the daily bulletins of the auction in the rest of the week, or issue a statement to clarify the reasons for this stop. The bank has decided to reduce the filing period for amounts for feeding the external accounts of banks from 10 days to five days, and as of the first of July [this]. ” The The central bank implemented an auction several years ago foreign currencies controversial in the days of Sunday and Monday, Tuesday, Wednesday and Thursday for the sale with banned for holidays on Friday and Saturday, but with the rise in the dollar’s exchange rate against the Iraqi dinar in an unprecedented way in recent weeks the bank called to cancel his vacation Saturday to increase his sales from the dollar to cover the need of the market and succeeded to reduce this increase. It was the sales are still higher to weaken than set by the budget law for 2015 to sell $ 75 million only, but the central bank opposed this selection being restricted from “financial movement and secure financial liquidity in the markets.” He suggested the governor Central Bank and the Agency on the Keywords, through hosted on 21 June in the parliamentary finance committee, the abolition of currency auction to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell it to anyone who wants to buy it, because there is a reserve in the bank responds to any request with the restriction of sales instructions and controls but this is what the Bank can not be done. ” Currently, the bank sells the dollar at a fixed exchange rate of 1166 dinars per dollar [116 000 dinars per hundred dollars] While this price exceeds in local markets, bringing to 1350 but returned and fell to 1250 dinars per dollar [125 000 dinars for one hundred dollars. End

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