Central Bank: Increased import random and uncontrolled goods played a major role in the high exchange rate of U.S. dollar

14/03/2012 14:32:00

The independent Iraqi news agency / Baghdad / s. P ... ruled the deputy governor of the Central Bank of the appearance of Mohammed Saleh low exchange rate of U.S. dollar against the Iraqi dinar at least two points in the coming days because of the increased import of random uncontrolled good
Saleh said Moved in a press statement the reporter (and independent Iraqi news agency) The central bank sales during the current year has increased by $ (100) million, relative to last year, the sales (150) million dollars a day despite the fact that the market was stable.

He pointed out that central bank sales in the auction are now (250) million, equivalent to (73) trillion Iraqi dinars per day and still the U.S. dollar exchange rate, up from two points of the Iraqi dinar price.

That the policy of the central bank this year tended to increase in dollar sales at auction the central bank to (250) million dollars in order to maintain the stability of the Iraqi dinar exchange rate against the U.S. dollar, pointing out that the dollar exchange rate recorded two points in front of the Iraqi dinar, but this can not be The Central Bank will increase its sales in the coming period to restore the Iraqi dinar against the dollar.

Saleh pointed out that the increase in import random and uncontrolled Of the goods to mostly poor origin, played a major role in the high exchange rate of U.S. dollar during the current year compared to previous years due to lack of a law regulating the import and trade in Iraq Calling for "close the doors of the state open to the importation of foreign," respect for the trading system in the country, to save the local currency before the decline of foreign currencies.

The sale price of the U.S. dollar in the local markets during the current period (1240) Iraqi dinars, while the purchase price (1230) Iraqi dinars per one dollar.