CBI: we have three times the needs of the Iraqi market in hard currency

05/02/2012 15:39

Baghdad, February 5 (Rn) - The Central Bank of Iraq, Sunday, what is available for hard currency has more than three times the needs of the Iraqi market, indicating that the Bank is exposed to "rumors" media are meant to destabilize the national 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 stop sales of hard currency.

And picked up local media for widening the sale of hard currency to Iranian businessmen at border crossings, especially in the province of Maysan, unless confirmed by the Central Bank of Iraq.

The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn), "We have been an economic strike, the Iraqi dinar is currently semi-hard currency, and is available at the Central Bank of the hard currency outweigh the needs of the Iraqi market three times."

He also explained that "there is a media campaign directed against the Iraqi economy, we do not know the source or motivation, but we are watching." He said.

He described the Vice-President of the Bank are traded in the media of the bank to stop the sale of hard currency or the smuggling of currency out of the country to "political bubbles," noting that "the Central Bank of Iraq is primarily interested in economic security."

And works according to the Iraqi Central Bank Law No. 56 of 2004, and held five meetings a week in the daily auction for the public sale of foreign currency.

The main tasks of the Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.

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