Yasiri: The Central Bank has started to make some good steps to reset the value of the dinar
Date: Monday 04/06/2012 14:11

Baghdad / WAP / MP said the state law and a member of the Finance Committee Abdulhussain Yasiri way to open letters of credit instead of foreign exchange of currencies used by the central bank to maintain the value of the dinar against the dollar. "
Yasiri said in a press statement today, "said the central bank has started to make good steps to restore the value of Iraqi dinar and the preservation of its price to the foreign currency through the grant authority to sell hard currency for a number of commercial banks, in addition to that action will be taken to open letters of credit instead of foreign exchange currency ".
He added that "the way the opening credits would force traders to open the adoption of their own by commercial banks, whether governmental or private, and puts the insurance, so it when it wishes to import goods from abroad opens depending instead of money transfer to ensure the receipt of goods into the country, and a high standard and to avoid operations out of funds without the import of the country. "and noted" that the purpose of taking such action by the Central Bank in order to preserve the value of Iraqi dinar, because when you reduce the central from the sale of hard currency will lead to increase in value as the lower exchange rate of the dinar. "