Related News: banking companies behind the rise in the dollar price

4/18/2016 0:00

BAGHDAD - morning
Called economic academic Dr. Majid Baidhani private banks to cooperate and coordinate with the central bank to curb the appreciation of the dollar exchange rate in the Iraqi market.

He Baidhani in an interview with «morning» that the markets have recently experienced an increase is noticeable reason to the importance of expediting control over price exchange for the purpose of re - dollar rate to a normal level in order to be a factor is a matter of stability.

The total dinar exchange rate against the dollar in the early hours of the day and on Sunday 1306.50, while the rate was below that until recently.

He called Baidhani to take strict control measures towards the banking and reduce companies of the Central Bank granted licenses to establish new companies or the imposition of additional restrictions upon being irrelevant to the economy as they seek to profit at the expense of the general situation of the country and citizens alike.

Iraq has seen in years relative stability of the exchange rates at 1200 dinars per dollar , but this stability has not It lasted only two years from 2011 to 2013 and then rebounded indicators to emerge in the banking markets , making the private banks take the initiative in coordination with the central bank to cut the dollar and returned to a normal level.

The Baidhani need to put a price to the bottom of the price of the peak in the dollar to be at rates calculated and can be controlled it rather than unleash corporate banking select or impose exchange rate outside of the price fixed by the central bank being not lifted sales of the dollar rate to private banks and corporate banking.

Under the Iraqi Central Bank Act of March 62 004 , it is responsible for maintaining price stability, and implementation of monetary policy (including exchange rate policies), and the management of foreign reserves, as well as issuance of currency management, and regulate the banking sector to promote a competitive and stable financial system.