Central Bank: Identification of a commission selling the Iraqi currency ten dinars only be added to the price of the dollar

Thursday, 23/02/2012

Baghdad (news) .. The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh select commission that the bank selling the Iraqi currency ten dinars only be added to the price of the dollar set at a reasonable price, indicating that monetary policy is controlled.
Saleh said (of the Agency news) on Thursday: that there are differences in the market for the dinar exchange rate against the dollar in different parts of Iraq, which called for by the Central Bank to impose special measures against market speculation through the identification of a commission to sell the currency ten dinars only be added to the price of the dollar and set a thousand and one hundred and seventy-nine dinars.
He added that the central bank decided not to receive a bank or company money transfer or franchise more than a commission set starting on Wednesday (February 22 cur) also can not create the price of the last that the central bank rate is (1179) dinars per dollar, which was originally (1166), but added it (13) JD commission, banks and companies charge (10) JD shared, adding that it should not exceed the price (10) dinars for central bank rate for the commission.
For his part, said Iraqi Central Bank Governor Sinan Shabibi in an interview with him (the news): it is possible to Ntmon everyone, be they in government or the House of Representatives or the citizen himself and that monetary policy and the dinar policy controlled and that there are reserves of so-called cover the currency is in the truth will ensure an adequate process of the dinar in the country.
The Iraqi Central Bank revealed on the sixth of January 2012, a rise in reserves of foreign currency into (60) billion dollars for the first time in the history of Iraq, after it had been in 2010 had reached (58) billion dollars.
The Deputy Governor of Central Bank of Iraq appearance of Mohammed in the ninth of January 2012: that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market as well as higher sales of the Iraqi Central Bank foreign currency, due to the financing of trade of neighboring countries by the Iraqi traders.
The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that fund the traders from the private sector except for public holidays on which depends the World Bank for these auctions and the sales either in cash or in the form of money orders sold out for a commission of certain. / Finished / 3. d. Q /

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Alabtan MP: talk about the entry of counterfeit currency in large quantities just rumors unreasonable

Thursday, 23/02/2012

Baghdad (news) .. A member of the citizen bloc MP / National Alliance / Abdul-Hussein Alabtan that the rumors about the presence of Iraqi and foreign currencies of a forged in Iraq is a relentless campaign intended to fold the national currency, noting that the country is immune, no changes can be affected side.
He said Alabtan (for the Agency news) on Thursday: The talk and a fraud, a large entered Iraq and are dealing in is not true, and there may be fraud, but not in quantities that have little, indicating that these rumors are relentless campaign intended to fold the Iraqi currency.
He added that these rumors were proportional to the procedures for the Central Bank, which stepped up the currency or increase the exchange rate of the Iraqi dinar against the U.S. dollar and that the talk of the existence of counterfeit currency in large quantities is reasonable because it depicts Iraq as the only one who has the fake currency and the rest of the countries in the world does not have a counterfeit currency.
He called for: stakeholders to be careful of such rumors being detrimental to the national currency and the market alike.
He pointed out: that the Iraqi currency well in the central bank is immune, and is still in the lead as oil country and has a high cash.
He was a member of the Iraqi List Lahibi Taha accused earlier: Iran to enter forged Iraqi currency to buy foreign currency from the market, warning that the government's silence on this issue will allow it to participate in the process. / Finished / 3. D. Q /

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Economic parliamentary: Start the process of removing zeros from the currency in September next.

18/02/2012 17:48

Remember without revalue of currency they can not replace the old currency with new..

Baghdad, February 18 (Rn) - The parliamentary economic committee, Saturday, in agreement with the Iraqi Central Bank to begin the process of removing zeros from the local currency in September next.

The central bank announced earlier that he is considering the requirements of the project to delete the zeros of the local currency with the Council of Ministers in terms of need process for the enactment of the organized or not.

A member of the Economic Commission Abdul-Hussein Abtan told the Kurdish news agency (Rn) that "the Economic Commission agreed with the Central Bank to begin the process of changing the local currency in September next."
He added that "the agreement granting process to ensure the currency switch for a full year that the two currencies are traded the old and new in the market during this stage."

And describes the CBI process of switching the currency national project in support of the economy in the country, while expressing the Iraqi government for fear of the project as it will increase the phenomenon of money laundering, "according to belief," and is working to convince the central bank to stop the implementation of the project, and be approved by the securities the government's position of deletion of zeros and says it will affect negatively on the financial trading in the stock market.

Abtan explained that "the process of removing the zeros from the currency will contribute to dealing with inflation and facilitate economic cooperation with international banks and reduce the differences of living in the community."

The Committee emphasized the financial representative, on Sunday, the central bank tarry in the provision of a bill to delete the zeros from the currency to the Committee for the purpose of his study, saying that the law was passed would give Iraq an opportunity to address economic inflation, as experts predict a rise of inflation in the budget in 2012 because of the continuing interest in aspects of operational at the expense of the investment part of the general budget.

And inflation is excessive in the general level of prices and rising incomes as well as higher cash costs and create excessive cash balances.

He concluded his speech by saying Abtan that "the central bank looking to send a bill to change the currency to the House or not because the law gives the Central Bank of implied powers to delete the zeros of the local currency."

The functions of the central bank conduct of monetary policy in the country, including exchange rate policies and the management of foreign reserves and the issuance of currency management, and raise the level of the values ​​of the Iraqi dinar and deal with inflation in the country, which is responsible also for the maintenance of price stability, as well as to regulate the banking sector.

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