The central bank raise the price of the Iraqi dinar against the dollar by 3.4%


19.01.2012 | (Voice of Iraq) - Add comments - Sumerian News / Baghdad Central Bank of Iraq, Thursday, for raising the price of the Iraqi dinar against the dollar by 3.4%, confirming that the decision would affect the exchange rate of the dinar against the U.S. dollar in the Iraqi market. The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News", "the Bank worked to raise the prices of the Iraqi dinar against the dollar during the sessions for the sale and purchase of foreign exchange by four dinars and by 3.4% to up to 1166 dinars to the dollar , "noting that" the price of the dinar nominal is not commensurate with the purchasing power to him or the real price of the exchange rate of the dinar against the dollar. " Saleh added that "current account payments to Iraq, where a large surplus relative to GDP, a rate of 5-8%," asserting that "surplus The signal strength indicator and not vice versa as well as the existence of large reserves of the Bank. " Saleh pointed out that "the dollar exchange rate in the Iraqi markets that recently experienced a slight increase will be affected by the decision of the Central Bank of Iraq," adding that "the Iraqi dinar will be attractive in the Iraqi market." The Central Bank of Iraq announced on Thursday for his buying and selling of the dollar price of 1166 dinars during the auction, hosted by the daily participation of 23 banks, up from the selling and purchase price of 1170 dinars to the dollar. and recorded sales of Central Bank of Iraq at the conclusion of its sessions for the current week decline slightly around a million dollars to more than $ 199 million, compared to the day on Wednesday, which reported a nearly $ 200 million. The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh (January 14, 2012), all intended to put three categories significantly after the deletion of three zeros of the Iraqi dinar, pointing out that the process of replacing the currency will take two years. As announced in favor of the (January 6, 2012) for high reserves of the Iraqi Central Bank foreign currency to the $ 60 billion for the first time in the history of Iraq, while stressing its ability to curb inflation if it came to ranking places, considered that current levels do not raise concern. and the foundations of the Iraqi Central Bank as an independent institution under the law issued on the sixth of March of 2004, as an independent body is responsible for maintaining price stability and the implementation of monetary policy, including policies exchange rates and foreign reserves management and the issuance of currency management, in addition to regulate the banking sector to promote the financial system competitive and independent. It is noteworthy that the CBI is being daily sessions for the sale and purchase of foreign currencies with the exception of public holidays during which depends on those auctions.





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