Economic Commission Decision: The Central Bank pumped huge amounts of dollars to maintain the value of the dinar in front of him

by **Ponee** Wed May 30, 2012 12:29 pm

Wednesday 05/30/2012 12:06

Baghdad (news) .. According to decision of the Economic Commission for MP / Kurdish coalition blocs / Mahma Khalil, that the central bank gave the government powers to commercial banks to sell foreign currency in addition to the auction to inject large amounts of dollar in the market to maintain the value of the dinar.

Khalil said (of the Agency news) on Wednesday: The Central Bank is the main reference for the Iraqi banks and obliges it to apply fiscal policy, and as a result of increasing the value of the dollar against the dinar during the recent period, he decided to Central to give authority to sell hard currency to the Rafidain and Rasheed to keep the Iraqi dinar exchange rate.

He added that the central bank to sell the currency to the auction

To pump large amounts of hard currency in the domestic markets and increase the value of Iraqi dinar against the U.S. dollar, pointing to the way they are successful to keep the dinar exchange rate, provided that the procedures applied in accordance with well thought out by not tolerant of hard currency out of the country for the purposes unnecessary.

He explained: that the Central Bank is an independent body financially and administratively and responsibilities linked to the Council of Representatives and his policies respected by everyone because it contains a selection of financial experts and the possibilities of high transparent and clear, so can not the CBI in these unstable conditions experienced by the national currency to abandon its auction public are A full commercial Iraqi banks. / Finished

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