Central Bank of Iraq to set new strategies to unify exchange rate

by **Kevind53** Tue Sep 11, 2012 3:48 pm

11/09/2012 13:12
BAGHDAD, Sept. 11 (AKnews) -

An official from the Central Bank of Iraq (CBI) revealed Tuesday the bank is preparing new strategies to unify the exchange rate of foreign currency in the country, noting that it is seeking to invest the amounts spent to serve the economic stabilization plan.

The deputy governor of the CBI Muzher Mohammed Saleh did not comment on the new strategies.

Mohammed said the CBI is mainly responsible to maintain the economic stability.

He said there are emergencies like regional and internal problems that affect the currency exchange rate.

The Council of Representatives decided last month to form an investigation committee, led by the deputy for house speaker Qusay al-Suhail and including the heads of economy and finance committees and chairman of the Supreme Audition Board, in order to inspect the bank transactions on currency auction sale.

The main task of the CBI is to keep the price stability, implement the monetary policy, including exchange rate policies, and manage the reserves of foreign currency in addition to regulating the banking sector.

By Raman Brusk
RN/LL/AKnews

http://www.aknews.com/en/aknews/2/325789/