Central Bank: The teams we have reduced the dinar exchange rate to 4%, and we seek to raise the value of
Thursday 24 May 2012 10:15 GMT

Deputy Governor of the Central Bank of the appearance of Mohammed Saleh
Sumerian News / Baghdad
Central Bank of Iraq, Thursday, reducing the difference for the dinar exchange rate to 4% after it was 7%, while assuring that the process of raising its value in the Iraqi market and make the dollar worth 1000 dinars.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh in an interview for "Alsumaria News" "The Bank was able to reduce the difference between the sale price of the dollar in the auction conducted by a day and between the price of the dollar in the market to 4% after it has reached more than 7% during the last period , "asserting that the Bank" seeks to reduce the difference to 2%, which is the natural difference in the world and unacceptable differences in price. "

Saleh added that "the Bank is working to make the dollar worth 1000 dinars," adding that "seeks to raise the exchange rate of the dinar in the coming period and proportional to the strength of the economy, particularly that Iraq will lead the energy market in the world for years to come."

Saleh said that "the bank reserves and the government is a powerful force huge financial and therefore, these reserves and the strength of the dinar should be aligned with the positive developments in the Iraqi economy," adding that "what we are witnessing the rise in the price of the dollar in the markets of Iraq is just a bubble, soon we will eliminate them Busaślna open ports, including the sale of the dollar through the Rafidain and Rasheed. "

The Central Bank of Iraq announced, in (21 May 2012) for the conduct of the Rafidain and Rasheed citizens to sell the dollar price of 1189 dinars per dollar, pointing out that the move was intended to benefit the Iraqi citizens directly from the exchange away from the monopoly exercised by the other.

And has already confirmed the central bank (April 25, 2012), he seeks the next few days to cancel the auction conducted by a day and convert it to a single State-owned banks or other businesses, stressing that the policy of the bank falls in maintaining the exchange rate and the fight against money laundering and not to finance trade countries other.

He revealed the CBI, in (January 6, 2012), a rise in foreign currency reserves to 60 billion dollars, for the first time in the history of Iraq, having marked the beginning of September of the year 2011, up precautions amounted to $ 58 billion after the $ 50 billion the end of the year 2010.

The Central Bank of Iraq holds daily sessions for buying and selling foreign currencies with Iraqi banks, except for public holidays on which depends the World Bank for these auctions, and sales are either cash, or in the form of money orders sold out for a commission of certain.