The central bank announced lower dollar exchange remittances market price

Author: ASJ, HH
Editor: AB, HH

26.07.2015 eleven thirty-nine

Long-Presse / Baghdad
The Central Bank of Iraq, on Sunday, for the decline in the dollar exchange rate in the remittances market to 1203 dinars, while the source confirmed that this decline will raise the value of the dinar and reduces the cost of remittances.

The central bank said in a brief statement received (range Press), a copy of it, that "the dollar exchange rate in the remittances market fell to 1203 dinars."

For his part, in an interview with a source in the Central Bank said to (the long-Presse), "The decline in the dollar exchange rate in the remittance market will raise the value of the Iraqi dinar that the financial amounts sold by the Central Bank of alcohols greater than the amount sold in the auction currency."

The source, who asked not to be named, said: "This will reduce the cost of remittances is reflected positively on the economy, the fact that most of these go remittance for import."

The Iraqi Central Bank has decided, in (June 20, 2015), to stop the deduction of tax and customs secretariats on the amounts due to the dollar remittances, while pointing to direct this decision since the 18th of June current.

The Governor of the Central Bank on the Keywords attributed, in (June 20, 2015), the high dollar exchange rate to the large volume of imports and the migration of capital, and noted that this phenomenon worthy of study to gain access to economic, political and legal reform process, and in the detection of the launch of building an economic model project in Iraq, he stressed that the country needs an integrated economic model is able to select the tracks and objectives.

And it decided the Iraqi Central Bank on Tuesday (June 16, 2015), considered Saturday formally durable, to meet the need of banks currency, noting that reduced the duration of the special deposit amounts from ten to five days.

And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.