Central confirms the application of the new system of window sell the currency led to a decline in the dollar exchange rate

Economy News / Baghdad ...
Last updated 03/01/2017
- 15:05
The Central Bank of Iraq, on Thursday, that the implementation of the new system applied to a window sale of foreign currency led to a marked decline in the exchange rate of the dollar against the Iraqi dinar

The central bank said in a statement received "Economy News" that the new system removed the middlemen and hackers by changing requirements and actions toward simplification and transparency in the sale of foreign currency window operations as the new system of window competition between banks believe on the basis of the extent of compliance with the rules to combat money laundering and terrorist financing

He added that the new system's success and cooperation with the Iraqi banks are encouraged to take additional measures that the legitimate demand for the dollar up to the target price by applying programs and new standards and rules to achieve a clear and transparent cover those operations

He noted that the control of the exchange rates in light of the challenges of economic, financial and security situations are recorded monetary policy success in absorbing large shocks to Iraq will have to improve oil prices and the elimination of al Daesh terrorist significant impact in supporting the country's financial situation and thus relieve the pressure on monetary policy and to allow for it to achieve greater monetary stability to the country