Specialist: local banks have contributed to the stability of the exchange rate of the dinar against the dollar

20-12-2013 07:59 AM

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

Hassoun said (of the Agency news): that the local banks to not bear the responsibility of winning the oscillation currency exchange rate, on the contrary it has contributed to support the exchange rate of Dinarn through its commitment to the instructions and controls imposed by the central bank.

He pointed out: that the cause of the instability of the exchange rate due to the increased demand to buy the dollar in the local market, indicating that the central bank sells daily limits (80) million dollars, but he did not accommodate the increasing demand daily.

The witness Iraqi dinar exchange rate remained relatively stable after witnessed in the last period fluctuation and clear against the U.S. dollar, prompting the central bank to expand its sales of hard currency in the auction for the creation of a balance between supply and demand on the dollar, but is still demand for the dollar high in the local market. / Finished / 8. H. / P



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