Central Bank: new instructions to regulate the sale and purchase of foreign currency
BAGHDAD / Baghdadiya News / .. revealed the CBI and in the words of his deputy, the first appearance of Mohammed Saleh, new instructions to be issued by the bank on Wednesday will add new mechanisms for the sale and purchase of the dollar and increase control over this sector.
It is noteworthy that the Iraqi market exposure to shocks violent, most recently two months ago from now, where the decline in the value of the Iraqi dinar against the dollar difference of up to more than 14 points, and quickly, as a result of what he called the central bank crisis exported from abroad, specifically through Iran and Syria after the imposition of international economic sanctions on them .
Saleh added in a statement to the Agency / Baghdadiya News / he "and as everyone knows that one of the most important policies of the Bank in managing monetary policy is to maintain the stability of currency exchange rates and the defense of the exchange rate and the stability achieved, and here and after the occurrence of oscillation the last, unfortunately, worked on third parties and exploited by small-scale speculators to make profits temporarily, to come to the instructions we will develop a set issued on Wednesday and be in force from the same date. "
He continued that "the Central Bank Law of 2004 and as an independent body responsible for monetary policy in the country, it is the right version and follow all what he sees as necessary to achieve the objectives above, and include these instructions to reduce the purchase and sale of foreign currency for other purposes the right place, namely trade and other official dealings away from the so-called money laundering or terrorist financing, etc., and here will be more secure transactions and (pasteurized) any health and free from impurities. "
He noted that "the new instructions will not guarantee the closure of banking offices or small shops banking, but will keep it even though the bank earlier work and after it had been buying and selling process confined within the auction currency in the bank only, we have worked to expand sales and purchases to cover all branches of banks government in Baghdad and the provinces and soon will be the private banks in the ports, it is important that the new regulations be more support for our work, safer and more control over the process and prevent the circulation of currency subject to the wishes of speculators in the market. "
Saw the last auction of the Central Bank sold 203 000 577 thousand dollars at 1166 dinars / USD, accounting for foreign remittances of which $ 191 million.
And mayors of the Central Bank during the past four months to issue resolutions to raise the value of Iraqi dinar by 17 points against the dollar, in a move towards larger project which is the equation of the value of the dinar and the dollar in the future, will be carried out after replacing the existing currency with a new one which deleted three zeros.
He had earlier called for a number of experts and members of the parliamentary economic committee, including Nora Salem Albjara tougher finding mechanisms to control the currency market and reduce the possibility of manipulation from outside the border.
The Albjara Agency / Baghdadiya News / "Everybody appreciates the role of the Central Bank, which managed to impose its policy on exchange rates and enhanced the value of the dinar for years to nine years, but the Iraqi market fear always shakes violently, and this increased the desire to deal in dollars even out buying and selling daily, and fear from dealing in dinars, which was supposed to be the most stable national currency and the most admissible. "
Ruled out Albjara "the end of the external influences on the value of the dinar is present and, unfortunately, there are those promoted by the inside, and also announced it has entered the large quantities of counterfeit currency of the country was the end of which is to hit the dinar and the withdrawal of the largest amount of real currency abroad, and there are goals of many, some terrorist-related and other targeting the country's economy and the other end of them to turn a profit, and here we really need more stringent mechanisms to control the entry and exit and the movement of money in full, finished / 27. http://translate.google.com/translat...UTF-8&oe=UTF-8