#####To enhance the value of the dinar .. Central Bank authorizes the governor to reduce the dollar exchange rate

12/12/2012
BAGHDAD / not / the Iraqi central bank decided to cover a number of private banks Bmzadeh public for the sale of foreign currency and increase the financial stake of the auction granted to the exchange companies and authorize the Governor of the Bank to reduce the price of the dollar against the Iraqi dinar.

A statement from the Bank received the "Agency secrets news / not /" a copy of Wednesday "that as part of the keenness and the pursuit of the Iraqi Central Bank in the development of his tools in the monetary policy and support the national economy stable market took the Board of Directors of this bank many decisions, including" encouraging Iraqi banks ( Baghdad, credit, and Mansour) in the first phase and include later all banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose in addition to the continuation of these banks in the entry window sale of foreign currency (currency auction).

"and noted" In addition to increasing the share of Auction Weekly granted to exchange companies and money transfer is (100) thousand dollars to exchange companies who Zat their capital and the requirements of the Iraqi Central Bank to actually (500) million and (150) thousand dollars for money transfer companies from increased their capital before the desired date by CBI (15) billion dinars and (125) thousand dollars for money transfer companies who increased their capital requirements, the CBI ten billion dinars.

"" As decided Authorization Iraqi Central Bank Governor validity reduce the sale price of the dollar and of (1179) JD per dollar to enhance the value of the Iraqi dinar according to the requirements of the market. "ended 22 /


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CBI authorizes the province to raise the price of the dinar against the dollar

Wednesday, 12 January 1 / December 2012 18:20

Twilight News / Central Bank of Iraq, Wednesday, authorize the acting governor Abdul Basit Turki raise the price of the dinar against the U.S. dollar.

And saw the price of the dinar stable since 2008 and so far at the exchange rate ranged between 1170 to 1200 Iraqi dinars per dollar.

The bank said in a statement received "Twilight News" copy of it, that the bank's board has taken a number of decisions to support the national economy, notably authorize the Governor to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the dinar and the requirements of the market.

The statement did not mention the new proposed price of the dollar against the dinar, also did not specify a time limit for the implementation of the mechanism for lifting the price of the Iraqi dinar.

The decision came after a few weeks of the withdrawal by the Central Bank Governor Sinan al-Shabibi and the prime BSA Abdul Basit Turki to serve as governor of the bank.


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Iraq, December 13, 2012

The Central Bank of Iraq decided to include a number of local banks in the foreign currency auction and increase the financial shares granted to the banking companies.


A statement by the CBI cited “Within the framework of the CBI’s efforts to develop its monetary policy and support the national economy, the managing council of the Bank took many measures including attracting several local banks through opening the bonds and financing them by the CBI according to specific mechanism set for this purpose in addition to allow these banks to take part in the currency auction.”


“It was also decided to grant the governor of the CBI power to decrease the US dollar price which is IQD 1179 for one dollar as an enhancement to the cost of the Iraqi dinar according to the requirements of the market,” the statement concluded.


-Iraqi News-


http://www.iraqdailyjournal.com/story-z6834408