Central confirms the application of the new system of window sell the currency led to a decline in the dollar exchange rate

The Central Bank of Iraq, on Thursday, that the implementation of the new system applied to a window sale of foreign currency led to a marked decline in the exchange rate of the dollar against the Iraqi dinar.

The central bank said in a statement received "Economy News" that the new system removed the middlemen and hackers by changing requirements and actions toward simplification and transparency in the sale of foreign currency window operations, as the new system of window competition between banks believe on the basis of the extent of compliance with the rules to combat money laundering and terrorist financing.

He added that the new system's success and cooperation with the Iraqi banks are encouraged to take additional measures that the legitimate demand for the dollar up to the target price by applying programs and new standards and rules to achieve a clear and transparent cover those operations.

He noted that the control of the exchange rates in light of the challenges of economic, financial and security situations are recorded monetary policy success in absorbing large shocks to Iraq, will have to improve oil prices and the elimination of al Daesh terrorist significant impact in supporting the country's financial situation, and thus relieve the pressure on monetary policy and to allow for it to achieve greater monetary stability to the country.



http://economy-news.net/content.php?id=6819

The central bank attributed the decline in the dollar exchange rate to apply the new system to sell the currency window

 2017-03-01

He attributed the Central Bank of Iraq, Wednesday, depreciation of the US dollar exchange rate against the Iraqi dinar in the local markets, to implement the new system, the application window to sell foreign currency, as he emphasized his intention to take additional measures to reach the target price.

The bank said in a statement that "the implementation of the new system applied to a window sale of foreign currency led to a marked decline in the exchange rate of the dollar against the Iraqi dinar,"

He pointed out that "the new system removed the middlemen and hackers by changing requirements and actions toward simplification and transparency in the sale of foreign currency window operations, as the new system provides a window for competition among banks on the basis of the extent of compliance with the rules to combat money laundering and terrorist financing."

The bank said that "the success of the new system are encouraged to take additional measures that the legitimate demand for the dollar up to the target through the implementation of programs and new standards and rules check the clarity and transparency of these operations to cover the price."

The bank noted that "control over the exchange rates in light of the challenges of economic, financial and security situations are recorded monetary policy success in absorbing large shocks to Iraq," stressing that "the improvement in oil prices and the elimination of al Daesh terrorist will be instrumental in supporting the country's financial situation , thus relieving the pressure on monetary policy and to allow them the opportunity to achieve greater monetary stability to this country. "

The local market has seen a marked decline in the dollar against the Iraqi dinar and by five thousand dinars to the category of $ 100

http://burathanews.com/arabic/economic/313420