Central Bank: increase demand for the dollar in an unprecedented

Published on Sunday, 07 October 1 / Okrudolf 2012 09:03 | Written by: kawthar

BAGHDAD / With: detection deputy central bank governor appearance of Mohammed Saleh, Sunday, on the arrival of a purchase order dollar at an auction of hard currency for (500) million dollars a day, stressing that this order over the power of the Iraqi economy, surprising at the same time about the existence of this huge of the Iraqi dinar Xjulh cash to buy the dollar.

Saleh said the reporter and news agency the future, that: "the process of finding an auction of foreign currency comes under the control of the Iraqi dinar exchange rate by the Central Bank, where divided this process into two parts, the first goes for transfers outside the country which is the bulk of the sale of foreign currency, and the goal from these sales to finance trade and import operations, and the other part comes within the needs of the citizens of the U.S. dollar cash and which is supposed to be for travel and walk some small things, and that is some maintained by the currency of the store. "

And that "the central bank may work on quotas for domestic banks and offices conversion financial and banking, where giving us from (1.25 - 2) million for each bank according to the capital they owned, and $ 75 thousand dollars for the banking offices and money transfer, and with respect to citizens, they can get up lower than the currency (5) thousand dollars at a minimum and up to a maximum of ten thousand. "

He stressed that: "auction of foreign currency under attack currency, which became a demand for the dollar against deposits amounts in Iraqi dinars in an unprecedented way, where up orders dollar to nearly (500) million, and this order is beyond the capacity of the Iraqi economy, so the Central Bank end of 2011 put roofs to cover such requests in accordance with instructions and special mechanisms, which began identifying sale Central's (200) million, and then edit those instructions and we started giving big banks (15) million dollars a day for the purpose of bridging the conversions of Finance, as well as grants from This ceiling until (5) million dollars to some banks, and the total amount was calculated, which sells the Central Bank سنجده (340) million dollars a day. "

Pointing out that: "the process of buying hard currency from the central bank auction, whether from private banks or by the citizens under its own control and not intersect with the anti-money laundering law and money, crime and terrorism." (Finished)

Ahmed al-Rubaie


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