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Central Bank of Iraq refuses to stop the auction sale of currency
[17:27] 12/Feb/04
Arbil - 4 February to February (PNA): saw the currency market in Iraq last month, troubled as a result the surge in demand for foreign currencies, especially the dollar, which attributed views Iraqi related to acquisitions wide by some neighboring countries, especially Iran , which suffer from the pressure of international sanctions on its economy, in addition to Syria, which suffer disorders of local and wide.
This has prompted the turmoil Economic Committee in the Iraqi Council of Representatives to call on the central bank officially stop its daily auction to sell the currency, pending the issuance of instructions determine those entitled to deal with hard currency, to ensure that leaked out of Iraq, according to the Chairman of the Committee, Dr. Ahmed al-Alwani.
Central Bank and the words of Deputy Governor Dr. Mohammed Saleh, said the appearance of the bank receipt of the request the Parliamentary Committee, and begun the official answer it, but without the means to stop the auction, diminishing fears of unrest resulting from the relative present.
Salih stressed that the central bank has already asked the parliamentary committee in issuing instructions limit the sale of hard currency Iraqi citizens have defined a fundamentalist.
Showed the first day of the application of new instructions a real suspicion in the process of buying the currency and smuggled into the third parties.
According to Saleh, said that this day was a surprise decline in sales volume of two hundred million dollar a daily rate of only four million, stressing that the bank will not back down from these instructions that aim to protect the Iraqi economy.
The said economic analyst Dargham Muhammad Ali that stopping the central bank auction of foreign currencies will lead to disorder and widespread in the Iraqi markets, noting that the last instructions of the Central Bank will be enough to stop the smuggling of currency to Iran and Syria
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[17:27] 12/Feb/04
Arbil - 4 February to February (PNA): saw the currency market in Iraq last month, troubled as a result the surge in demand for foreign currencies, especially the dollar, which attributed views Iraqi related to acquisitions wide by some neighboring countries, especially Iran , which suffer from the pressure of international sanctions on its economy, in addition to Syria, which suffer disorders of local and wide.
This has prompted the turmoil Economic Committee in the Iraqi Council of Representatives to call on the central bank officially stop its daily auction to sell the currency, pending the issuance of instructions determine those entitled to deal with hard currency, to ensure that leaked out of Iraq, according to the Chairman of the Committee, Dr. Ahmed al-Alwani.
Central Bank and the words of Deputy Governor Dr. Mohammed Saleh, said the appearance of the bank receipt of the request the Parliamentary Committee, and begun the official answer it, but without the means to stop the auction, diminishing fears of unrest resulting from the relative present.
Salih stressed that the central bank has already asked the parliamentary committee in issuing instructions limit the sale of hard currency Iraqi citizens have defined a fundamentalist.
Showed the first day of the application of new instructions a real suspicion in the process of buying the currency and smuggled into the third parties.
According to Saleh, said that this day was a surprise decline in sales volume of two hundred million dollar a daily rate of only four million, stressing that the bank will not back down from these instructions that aim to protect the Iraqi economy.
The said economic analyst Dargham Muhammad Ali that stopping the central bank auction of foreign currencies will lead to disorder and widespread in the Iraqi markets, noting that the last instructions of the Central Bank will be enough to stop the smuggling of currency to Iran and Syria
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