To pump nearly a billion dollars to the Iraqi market during the four-day strike was made by the Central Bank of the market, currency speculators in order to regain control of the Central Bank on exchange rates, which saw excessive vibration during the last week and are delivered Bdilalh on the value of Iraqi dinar, which dropped its value against the dollar by 17 points the worst decline in nearly six years.
He declared the Iraqi Central Bank today announced the restoration of control over the exchange rates of the dinar in the Iraqi market, which saw over the past days an unprecedented decline of the value of the dinar against the dollar and other foreign currencies, which attributed the bank to increase the demand for dollar by the citizens and the private banks and banking companies.
Exchange rates of the Iraqi dinar and since the introduction of market sell currencies in the Central Bank was likely the balance of last resort where he managed and cross-use policy put the dollar through the auction and at prices determined by the economic vision to enhance the value of the dinar, was able to raise the value of the dinar gradually, was the exchange rates of the dinar after the events of 2003 is estimated at 2240 dinars / dollars, and after two years is now worth 1118 dinars / USD and this has continued stability until a week ago, and immediately after the announcement the U.S. side, the last troops of his Iraqi territory towards the base of Kuwait, was quick speculators to reduce the supply generally from quick to switch Dnanaarham dollars for fear of the deterioration of the situation and are raising the value of dollar by 17 points as the price of exchange and the day before from now 1227 dinars / dollars.
He said the bank in an official statement received (citizen), a copy of “that in light of the critical circumstances through which Iraq at the political level now and the accompanying events and in particular the U.S. withdrawal from the country, has seen the foreign exchange markets rises in rates in an unprecedented accompanied by a growing demand to buy foreign currency from the banks and their customers, and exceptionally. ”
As the auction Central Bank of Iraq for the sale and purchase of foreign currency represents a window of intervention to stabilize the exchange rates of the Iraqi dinar against the dollar and is also a tool of monetary policy instruments to address the state of expectations of inflation and contain the adverse effects on investors’ decisions and business dealings and the general level of prices confirms the Iraqi Central Bank and based on to its reserve of foreign currency, which is the highest in the country’s history and being the cover of the national currency chock of the Iraqi dinar and the stability and persistence in the stabilization and face bubbles price of emergency in the exchange market resulting from a state of uncertainty imposed by the current situation of our country, could the Iraqi Central Bank in bringing balance to the cash during the period of a few, which confirms the ability of monetary policy and the stability of their instruments in the face of any circumstances, political or economic emergency facing our country, to restore economic balance and to impose the necessary stability to the national economic activity and enhance at the same time confidence overall in the two monetary and economic of the country.
Therefore, the Central Bank of Iraq reassures the customers of the government and private sector that will provide monetary environment serve economic stability and growth.
Aztr Central Bank to pay the huge numbers of the dollar in the auction market, where it was sold of dollars during the four days, nearly a billion dollars, where the market is on sale every quarter of a billion dollars, at prices not exceeding 1117 dinars / dollars.
It is noted that the auction the bank involving as shareholders in the auction of more than 20 banks and financial firms where the use sale proceeds to be derived from the proceeds of the sale of oil to cover government expenditures and extending the general budget, with banks and companies to provide shareholders and traders what they need to cover their business dealings with the outside and inside
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