Expert: raise the quota of the dollar exchange rate in the banks means the success of central bank policy and exchange rate stability

Date: 10/05/2012 08:43:34 Friday



Baghdad (news) .. Attributed the economic expert Manaf Al Sayegh, the reasons for the recent actions of the Central Bank to raise (Kuta) Prices of Iraqi banks for the currency, to stabilize the exchange rate of the dinar against the dollar.

Said Sayegh (of the Agency news): The Central Bank to establish new procedures raise quota prices for the currency in Iraqi banks and make market currency market free as a result of the stability and balance of the dinar against the U.S. dollar in the local market, noting that the quota prices imposed on currency in banks previously when the price of the dollar against the dinar.

He added: that the central bank to impose restrictions on the sale of the currency in Iraqi banks when increased demand for the dollar and increased its value against the dinar, ماجعلها procedures achieved a successful balance in the currency.

Sayegh stressed: that the policy of the central bank reduced the difference between the price of the two currencies in the money market and the price of the currency at the Central Bank, adding that the exchange rate of the dinar against the dollar has become parallel and the percentage difference between the two estimates (2%).

He continued: to reduce the difference between the market price and the price of the bank to make a strong Iraqi dinar against the dollar, stressing that the coming period will see a level playing field between the dinar and the dollar.

Sayegh said: demand for the currency attack earlier prompting the central bank to restrict the display of foreign currency ceilings pricing and selling virtual currency in the banks to achieve a balance between the dinar and the dollar. / End / 21. D. Q /


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