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Association of Banks launches initiative to reduce cash sales
May 27, 2015 21:42
Iraqi private banks association announced that it has launched an initiative to reduce cash sales of dollars to citizens and banking companies as of Sunday the twenty-fourth of this month.
Says President of the Association Abdul Aziz Hassoun in a radio interview I followed news agency Buratha today that "this initiative is in support of a political central bank cash, and to ensure the stability of the dinar exchange rate against the dollar," explaining that "the sale would be worth 1193 dinars to the dollar and 1192 dinars to the dollar in the case of hawala".
Prime Minister for Economic Affairs Adviser to the appearance of Mohammed Saleh predicted that "contribute to the initiative to reduce the dollar exchange rate against the Iraqi Aldnyar", considering it "a moral step will narrow down in front of speculators manipulators at market prices."
The economic expert Abdul Rahman al-Mashhadani, believes that "the Iraqi private banks association initiative to reduce cash sales to the dollar for the citizens and banking companies, will work to increase the proportion of the supply of the Iraqi dinar in the market", ruling that "clog the initiative actual need of the trading day for the market, which up to $ 175 million , "he said.
The local markets saw a remarkable increase the price of the dollar against the Iraqi dinar, reaching during the last period in 1335 dinars to the dollar compared to 1200 dinars to the dollar, which is the normal price of the local currency against the dollar.
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May 27, 2015 21:42
Iraqi private banks association announced that it has launched an initiative to reduce cash sales of dollars to citizens and banking companies as of Sunday the twenty-fourth of this month.
Says President of the Association Abdul Aziz Hassoun in a radio interview I followed news agency Buratha today that "this initiative is in support of a political central bank cash, and to ensure the stability of the dinar exchange rate against the dollar," explaining that "the sale would be worth 1193 dinars to the dollar and 1192 dinars to the dollar in the case of hawala".
Prime Minister for Economic Affairs Adviser to the appearance of Mohammed Saleh predicted that "contribute to the initiative to reduce the dollar exchange rate against the Iraqi Aldnyar", considering it "a moral step will narrow down in front of speculators manipulators at market prices."
The economic expert Abdul Rahman al-Mashhadani, believes that "the Iraqi private banks association initiative to reduce cash sales to the dollar for the citizens and banking companies, will work to increase the proportion of the supply of the Iraqi dinar in the market", ruling that "clog the initiative actual need of the trading day for the market, which up to $ 175 million , "he said.
The local markets saw a remarkable increase the price of the dollar against the Iraqi dinar, reaching during the last period in 1335 dinars to the dollar compared to 1200 dinars to the dollar, which is the normal price of the local currency against the dollar.
[You must be registered and logged in to see this link.]
