Currency Auction information............. something to it ! ?
Criticized a member of the Committee of Economy and Investment National Alliance MP Ibrahim al-Rikabi, the policy of the Central Bank to sell the dollar in the auction in large quantities because it will affect the entire cash reserve of hard currency in the country and will not lead to the stability of the exchange rate of the dinar against the dollar.
Rikabi (of the Agency news): The current monetary policy pursued by the central bank is not built on the basis of cash or bank valid evidence it increases the offer to sell the U.S. dollar in the auction did not think the existing reservoir of hard currency has.
He explained: that the source of hard currency "dollar" comes through the sale of oil and there is no other sources can be relied on to attract hard currency for the country, when increased amounts of dollar sold at auction the central bank will reduce the monetary reserves of foreign currency, thus affecting the value of the Iraqi dinar against other currencies International.
He added: that the Finance Committees and economic Alniabaten held ongoing meetings with the Governor of the Central Bank and his aides about the increase in the exchange rate of the U.S. dollar and the process of selling the dollar in the auction and conducted several discussions and dialogues to this subject, but to no avail and will not reach a convincing radical solutions.
This was the Iraqi Central Bank announced an increase sales of the dollar to reach more than $ 299 million in its daily auction, exchange rate was 1166 dinars for one dollar, and with the participation of up to 24 local banks.