Rise in central bank sales to $ 221 million

06/02/2012

Baghdad, February 6 (Rn) - The Central Bank of Iraq that the sales of the dollar rose on Monday to $ 221 million versus $ 209 million in yesterday's trading session.

The deputy governor of the Central Bank of the appearance of favor, told the Kurdish news agency (Rn) that "the central bank sales of dollar today reached to 221 million dollars."

He added that "the problem of selling the difficult process owners need to adapt banking libraries with new mechanisms established by the Bank to prevent the smuggling of currency."

And arrived in central bank sales in the January 11 last to $ 300 million for the first time in years.

And the development of a new mechanism requires the bank to withdraw hard currency on the basis of the importance of development projects in the country, after it has spread in recent times the phenomenon of smuggling hard currency to Iran, facing international sanctions.

Iraq refused to take part in the international community to impose economic sanctions on Iran.

Saleh said that "the increasing demand for the sale of hard currency these days comes because of the circumstances that prevailed in the neighboring countries of the major political problems."

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.

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