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The dollar auction at the central bank depends on Saturdays since three weeks
7/4/15
Auction sale of foreign currencies, including the dollar stopped Album Saturday for a third week in a row by the decision of the Central Bank of Iraq on 16 June last.
Bank did not say in the daily bulletins of the auction in the rest of the week, or issue a statement to clarify the reasons for this stop.
The bank has decided to reduce the filing period for amounts for feeding the external accounts of banks from 10 days to five days, and as of the first of July [this]. "
The central bank implemented an auction several years ago to sell foreign currencies controversial in the days of Sunday, Monday, Tuesday, Wednesday and Thursday with banned for holidays on Friday and Saturday, but with the rise in the dollar's exchange rate against the Iraqi dinar in an unprecedented way in recent weeks the bank called to cancel his holiday Saturday to increase sales of the dollar to cover the need of the market and succeeded to reduce this increase.
It was the highest sales are still weakening, which set by the budget law for 2015 to sell only $ 75 million, but the central bank opposed this selection being restricted from "financial movement and secure liquidity in the financial markets."
He suggested the central bank governor and the agency on the Keywords, through hosted on 21 June in the parliamentary finance committee, the abolition of currency auction to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell it to anyone who wants to buy it, because there is a reserve in the bank responds to any request with instructions to restrict sales and controls but this is what the Bank can not be done. "
Currently the dollar and sell the bank at a fixed exchange rate of 1166 dinars per dollar [116 000 dinars per hundred dollars] While this price exceeds in local markets, bringing to 1350 but returned and dropped to 1250 dinars per dollar [125 000 dinars for one hundred dollars.
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7/4/15
Auction sale of foreign currencies, including the dollar stopped Album Saturday for a third week in a row by the decision of the Central Bank of Iraq on 16 June last.
Bank did not say in the daily bulletins of the auction in the rest of the week, or issue a statement to clarify the reasons for this stop.
The bank has decided to reduce the filing period for amounts for feeding the external accounts of banks from 10 days to five days, and as of the first of July [this]. "
The central bank implemented an auction several years ago to sell foreign currencies controversial in the days of Sunday, Monday, Tuesday, Wednesday and Thursday with banned for holidays on Friday and Saturday, but with the rise in the dollar's exchange rate against the Iraqi dinar in an unprecedented way in recent weeks the bank called to cancel his holiday Saturday to increase sales of the dollar to cover the need of the market and succeeded to reduce this increase.
It was the highest sales are still weakening, which set by the budget law for 2015 to sell only $ 75 million, but the central bank opposed this selection being restricted from "financial movement and secure liquidity in the financial markets."
He suggested the central bank governor and the agency on the Keywords, through hosted on 21 June in the parliamentary finance committee, the abolition of currency auction to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell it to anyone who wants to buy it, because there is a reserve in the bank responds to any request with instructions to restrict sales and controls but this is what the Bank can not be done. "
Currently the dollar and sell the bank at a fixed exchange rate of 1166 dinars per dollar [116 000 dinars per hundred dollars] While this price exceeds in local markets, bringing to 1350 but returned and dropped to 1250 dinars per dollar [125 000 dinars for one hundred dollars.
[You must be registered and logged in to see this link.]
