Dollar selling through government banks

9/7/2016 0:00

BAGHDAD / morning
The CBI decided Rafidain and Rasheed foreign exchange processing (the dollar), "for the purpose of expanding cash sales outlets for the dollar," for citizens across their branches scattered in Baghdad and the provinces, "according to a statement on the central"

Commenting on the statement, said the relevant banking affairs Ahmed expensive: the expansion of dollar selling outlets would reduce the speculative price levels, pointing out that the move keeps the fixed rates for the currency.

He noted that this step needs to be flexible mechanisms away from the complexity and provides service to the citizen more easily.

He confirmed to the competent financial affairs Inas al-Zubaidi that the expansion of outlets in the dollar reduces the monopoly of public banks was introduced in certain ports, and contributes greatly to the decline in demand for banking companies.

He pointed out that the move will achieve a balance in supply within the market, and creates competition among banking companies contribute greatly to the stability of prices at the borders
Certain.

http://www.alsabaah.iq/ArticleShow.aspx?ID=122917