Source: some private banks will reduce the exchange rate of the dollar to 1180 dinars

07/19/2013 - 15:05



Alsumaria News / Baghdad


Source confirmed early Friday that some private banks will reduce the exchange rate of the dollar to 1180 dinars as of next Sunday.

The source said in an interview for "Alsumaria News", "The Association of Iraqi private banks Iraqi Central Bank took note of the fact that some private banks to reduce the cash dollar exchange rate to 1180 dinars."

The source, who asked not to be named, said, "This reduction in the exchange rate will be effective from the next day on Sunday 21 July 2013."

It is noteworthy that the Iraqi Central Bank hold daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a certain commission.


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[ltr]Bank agreement to reduce the exchange rate of the dollar to 1180 dinars starting from Sunday [/ltr]

Iraqi central bank says that it comes in line with its policy to reduce the exchange rate of the U.S. dollar
[ltr] [/ltr]


[ltr]BAGHDAD / obelisk: source confirmed the bank early Friday, the Association of Iraqi banks agreed with the Central Bank to reduce the dollar exchange rate cash to 1180 dinars as of Sunday, with the expectation that you responded to all banks for this initiative, he pointed out that this reduction would benefit great citizen.


A banking source said the "obelisk" "The Association of Iraqi private banks CBI took note of the fact that some private banks to reduce the cash dollar exchange rate to 1180 dinars as of next Sunday."


The source added that "this is in line with the policy of the Central Bank of Iraq in reducing the exchange rate of the U.S. dollar, and a continuation of what was initiated by private banks in reducing the selling prices of the dollar, which has achieved remarkable results clearly in the markets."


The source expected that all banks to respond to this gesture and sell at 1180 dinars to the dollar, and this in turn will significantly impact on exchange rates decline in the Iraqi market for the big benefit of the citizen and the movement of trade.[/ltr]

 


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[ltr] Economist: reduction of the U.S. dollar exchange rate in the private banks will stabilize the value of the dinar[/ltr]
[ltr]20-07-2013 06:22 AM[/ltr]	[ltr][/ltr]

[ltr][/ltr]
Baghdad (news) .. Said economic expert on behalf of Abdul Hadi, said the agreement private banks to reduce the dollar exchange rate will stabilize the value of the Iraqi dinar.

Abdul Hadi said (of the Agency news): The establishment of private banks to reduce the exchange rate of the dollar to 1180 dinars will lead to the stability of the value of the Iraqi dinar against other currencies and to activate the principle of transparency in dealing with foreign currency, in addition to reducing the speculative side.

He added: reduction of the U.S. dollar exchange rate is the role played by national private banks as well as its economic role.

The Association of Iraqi banks agreed with the central bank cut the cash dollar exchange rate to 1180 dinars as of next Sunday. / End / 5. G. / Mm



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