Association of private banks: local banks اتتحمل the responsibility of the fluctuation of the exchange rate of the dinar against the dollar

12-10-2013 10:31 AM

Baghdad (news) .. He attributed the Executive Director of the Association of private banks Abdul Aziz Hassoun, the reason for the fluctuation of the exchange rate of the Iraqi dinar against the U.S. dollar to increase the demand for buying hard currency in the local market.

Hassoun said (of the Agency news): The local banks اتتحمل the responsibility of winning oscillation currency exchange rate, on the contrary it contributed to the support of the dinar exchange rate through its commitment to the instructions and controls imposed by the central bank.

He pointed out: that the reason for the instability of the exchange rate due to the increased demand to buy the dollar in the domestic market, noting that the central bank sells daily limits (80) million dollars, but it does not accommodate the increasing demand daily.

The witness Iraqi dinar exchange rate fluctuation and clear against the U.S. dollar, prompting the central bank to expand its sales of hard currency in the auction to create a balance between supply and demand on the dollar, but is still demand for the dollar high in the local market.



- See more at: http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.ikhnews.com/index.php%3Fpage%3Darticle%26id%3D104229&usg=ALkJrhgq-HFtVBPpo0-hUrYk9-iGAjTWSw#sthash.61IUEACK.dpuf