Central Bank: frequent holidays and import dependence high dollar


Central Bank spokesman Acer Jabbar Central Bank should have a hand in what gets a rise in the exchange rate of the dollar against the Iraqi dinar, with pointed to factors that will influence that height, including frequent holidays, and keep the country imported goods by 95%.

Jabbar said in tsarihshavian Bank's actions on audit records and documents for banks and banking and remittance finds it refers to sell the dollar in a fixed exchange rate is 120 000 versus $ 100 though banks and companies selling those for dollars at higher prices.

Stressing that the Central Bank considers watchdog dealing with papers and documents cannot control those companies and banks without security and operational assistance.

He continued to say that what the Bank can do to offset the dollar's rise in the Iraqi market is dollar infusion into the market but that it follows a lot of problems, including political and economic, stressing that the only solution to the problem of high dollar should be shared between the Central Bank and the Federal Government said it has the bulk of the solution across affiliate institutions controlled by the Ministry of trade and economic security to regulate the entry of goods to the country.

Bank spokesman also noted that frequent holidays granted by the Government for other services also affects the dollar because banks close their doors during the holidays.

And Lastly, Jabbar attributed the rise of the dollar to the fact that the country is importing goods by 95%, and this makes the heavy demand for dollars is a reason to rise by dollar demand by importers for goods.