Date: Wednesday, 18-07-2012 11: 01 am
Baghdad (News) … Economic analyst said Abdullah Salem Al-igaily, nice ability of the Central Bank to lower the value of the US dollar against the Iraqi dinar during the coming period, expected to price stability (1189) dinars.
He said Al-igaily (the news agency news) on Wednesday: that the country’s monetary policy faces great challenges by neighbouring States, particularly under the international economic embargo as Syria and Iran, and the Central Bank had proved successful and its ability to maintain the value of the national currency in astray these pressures.
He noted that Syria and Iran: used various means, either legal or illegal to obtain hard currency “dollar” from Iraq, but thanks to the Central Bank and monetary policy plans dominated the checkout process increased the dollar and create near-balance in volumetric dollar supply and demand in the market.
He added that the Central Bank strives to reduce the value of the dollar to dinar more during the next period, probably up to price (1189), who aspires to Central, and maintain the stability of the dinar.
The dollar has soared during recent dinar.
The Central Bank has allowed (25) private banks to sell the dollar according to certain controls, and gives to every bank weekly million and 250 thousand dollar price (1179) and sold to citizens at a price (1189) that banks profit rate (10) dinars, to create a balance between the amount of currencies displayed and the size of the growing demand to maintain the value of the dinar against the dollar, while still the exchange rate varies between (1240-1250) dinars to the dollar