Abdul Hadi said (of the Agency news): The establishment of private banks to reduce the exchange rate of the dollar to 1180 dinars will lead to the stability of the value of the Iraqi dinar against other currencies and to activate the principle of transparency in dealing with foreign currency, in addition to reducing the speculative side.
He added: reduction of the U.S. dollar exchange rate is the role played by national private banks as well as its economic role.
The Association of Iraqi banks agreed with the central bank cut the cash dollar exchange rate to 1180 dinars as of next Sunday. / End / 5. G. / Mm
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