Bantrza source: punish financial firms impact on the dollar and raise the sales price} {Extended

History of edits:: 2016/5/19 14:01

{Baghdad} Euphrates News attributed the source at the Central Bank of Iraq, the high price of the dollar against the Iraqi dinar, to the lower central bank sales of foreign currency which causes punish some financial companies and the denial of participation in the auction currency.

The source told {Euphrates News}, said that the rise in the dollar against the Iraqi dinar, a return to the "low central bank sales of the dollar in the auction for the sale of foreign currency, because the supply does not meet demand, which means that demand is more than supply."

He added that "the Bank procedures, in the recent period with the banks and the banking and financial transformation, becoming harsh in terms of sanctions, which include the denial of entry of an auction of foreign currency sale for a month with the approval of the governor, which affects the sales of the bank as there became scarce, Failure to enter the companies to the auction leads to a lack of width dollar. "

The source explained, "was to deprive many companies to participate in the auction, based on the penalties to be applied from the central bank for violating the directive, as there are companies dealing with Daash according to what came to us from the information, has been deprived of the auction until further notice pending the verification of non dealings with Daash in funding it is returned to the auction. "

He noted, "The economic recession, lack of confidence in dinars and preference citizens retained instead of the dinar to the dollar because of the ease keep it, leads to a rise of the dollar against the dinar."

And currency markets recorded a remarkable increase of the price of the Iraqi dinar against the dollar, as the currency reached US $ 100 bills to 129 thousand Iraqi dinars.
The parliamentary Finance Committee member Ahmed Sarhan, said on the ninth of this May, for {Euphrates News} "The low central bank sales of the dollar led to the rise against the Iraqi dinar."

Ahmed said, "The central bank sales of the dollar fell, and thus caused this decline to the rise in the dollar against the Iraqi parents," appealing to the central bank to raise larger amounts of dollar in the local market, adding that "the rise of the dollar against the Iraqi dinar would negatively affect the Iraqi economy." .

The Governor of the Central Bank and the Agency on the Keywords, announced in the last 23 of March, the bank's intention to reduce sales of the dollar by 50% for the year 2016 this, stressing the need to take into account supply and demand.

Keywords and said in a televised interview, said that "rationing exists with the bank to sell the dollar during the auction conducted by, where we started to cut these sales in 2015, which amounted to 25% compared to the previous year," pointing out that "the year 2016 probably will reach this sales decrease by 40 to 50% from the previous year, ".anthy 1


http://alforatnews.com/modules/news/article.php?storyid=117359