CBI acknowledges the existence of an imbalance in the exchange rate and the deterioration of the value of the dinar denies

11/05/2012 13:55

Baghdad, May 11 / May (Rn) - approved the Central Bank of Iraq Friday the existence of an imbalance in the Iraqi dinar exchange rate, confirming his quest to unify the exchange rate between him and the local markets, denying at the same time, any deterioration of the value of Iraqi dinar. The central bank was accused last week of four countries the "conspiracy" to hit the financial economy of Iraq to empty its market of its financial strength, indicating that the corridors of free trade in Iraq is becoming the means adopted to hit the economy. saw the price of the dollar relative to local currency increased during the last few days, which he attributed Officials companies banking local to the central bank from making procedures Additional Auction hard currency. and picked up local media reported the widening phenomenon of smuggling hard currency from Iraq to Syria and Iran on the border crossing points which unless confirmed by the Central Bank of Iraq. and subject Iran because of its nuclear program and Syria as a result of public protest to international sanctions harsh and exposed markets, both countries to collapse economically because of poor cash flow of hard currency.Deputy Governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) "does not exist in the current phase of any deterioration of the value of Iraqi dinar and this is important," but he came back and acknowledged "the existence of an imbalance in the exchange rate of the dinar" . He also explained that "the central bank seeks to unify the exchange rate of the dollar against the dinar between the central bank and domestic markets (corporate banking) and uniformity depends on the volume of sales of the bank." and pointed out that "the size of central bank sales of the dollar is approaching 200 million dollars a day which is close to the year's sales the past. " The main task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector. From: Raman Brosk.Open: Abdullah Sabri