Central: We seek to stabilize the exchange rate by about 1.189 dinars to the dollar

Financial collateral to delete the zeros parliamentary control of the value of the Iraqi currency
Central Bank of Iraq said Saturday that the goal of monetary policy is to maintain and keep the Iraqi dinar exchange rate against the dollar by 1189, indicating the stability of the exchange rate in local markets after expanding outlets selling the dollar.

And approved the Central Bank of Iraq this month, the existence of an imbalance in the Iraqi dinar exchange rate and confirmed his quest to unify the exchange rate between him and the local markets while at the same time denied any deterioration of the value of Iraqi dinar.

The central bank last week accused the four countries to "conspiracy" to hit the financial economy of Iraq to empty its market of its financial strength, indicating that the free trade corridors in Iraq is becoming the means adopted to hit the economy.

And saw the price of the dollar compared to a rise in local currency during the past few days, which officials attributed to a local banking companies, the central bank to take additional action in the auction sale of hard currency.

The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) that "the central bank proved Iraqi dinar exchange rate against the dollar to 1189 dinars to the dollar after the addition of bank commission and profit of 13 dinars banking companies ten dinars to the dollar."

He explained that "the Central Bank sells U.S. dollar to 1166 dinars," expected "to resolve the phenomenon of the depreciation of the dinar against the dollar in the coming period."

He said the deputy governor of the bank by saying that "the Bank now sells $ 200 million, a substantial amount per day, which covers the needs of the market and the bank began to expand to include outlets selling bank Rafidain and Rasheed."

And picked up local media reports about the widening phenomenon of smuggling hard currency from Iraq to Syria and Iran on the border crossing points unless confirmed by the Central Bank of Iraq.

For her part, the financial representative, on Friday, that the implementation of the project to delete the zeros of the Iraqi currency and restructuring depends on the extent of control and control of the Central Bank of the exchange rate of the dinar against the dollar, as called for the adoption of new monetary policies before the implementation of the project.

A member of the Finance Committee Najiba Najib in an interview with "Twilight News" that "the project to delete the zeros and the restructuring of the currency made ​​by the central bank depends on the extent of implementation of control and control of the Iraqi dinar exchange rate against the dollar."

Najib said that "the central bank and government in the event will allow them to take action and contribute to a new monetary policies to control prices of the Iraqi dinar against the dollar, they will be able to cancel the wait and start deleting the zeros and the restructuring of the currency."

The Cabinet decided, in the middle of the month of April last, be patient in the application of the deletion of zeros from the national currency.

She Najib that "the central bank is still working to control the lifting of the Iraqi dinar exchange rate against the dollar," afterthought by saying that "political and security situation and economic development at the present time does not help to delete the zeros and the restructuring of the Iraqi currency."

The Central Bank of Iraq began to modify the search categories dinar, last year, and is still a large part of the payments being in cash due to the evolution of the banking system.


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