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Central Bank of Iraq to take action about the new sales of the dollar
New procedures for the Iraqi Central Bank about the sales of the dollar
PUKmedia than (AFP) 05/02/2012 10:02:10
Central Bank of Iraq began this week, the application of new measures over the sales of the dollar, according to a senior official said the bank told AFP on Saturday, which led to a significant reduction in the rates of selling currency.
The decision comes amid suspicions of Iraqi officials about attempts to Iranian and Syrian traders buy the currency this difficult because of the sanctions imposed on both Iran and Syria, the depreciation of local currency in these two neighboring countries of Iraq.
The deputy governor of Central Bank of Iraq for the appearance of "We started on the first of the month of February the application of new regulatory instructions (...) provides for the bank to know who wants to get on the dollar for his clients who had asked him to buy the currency."
"The bank's customers to prove they have personal accounts in which money and have a base of actual information in the bank in addition to fixed income."
Saleh explained that the reason behind these actions goes back to that "a lot of buyers hiding behind other people, ie, that of not buying a real person."
The refusal in favor of this resolution linking the consequences of sanctions on Iran, Syria, said that "regional factors are important and workers especially Syria and Iran, because there is overlap between the trade of these countries as well as Turkey and Saudi Arabia, the Gulf."
He said Iraq has witnessed in the recent "gift in the demand for the dollar."
"When we saw that there is extra demand amid the complexities of regional, we want to check more in the nature of sales and customers."
These measures have caused a significant decrease in the rates of dollar selling in the auction, hosted by the Central Bank of Iraq every week between Sunday and Thursday.
Saleh said he was "on the first day we started the implementation of these measures we sold three million dollars only," after the sale of these rates of currency during the last three months, "about 200 million dollars in one day."
Figures published on the site of the Iraqi Central Bank, which has, according to the benefit of the dollar reserves of about $ 60 billion, said sales of the dollar on Thursday amounted to about four million dollars.
It is noteworthy that the rate of dollar sales in 2010 was only about 100 million dollars a day.
And interpreted for the significant reduction in the rates of recent sales of the dollar by saying that "customers may fear for their privacy of banking."
The Iraqi official stressed that "no U.S. pressure never us, and our friends the Americans never nothing to do with the subject (new measures)."
Iran faces financial penalties and Syria, which could moved it to the search for hard currency, which may be one of Iraq's main sources.
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New procedures for the Iraqi Central Bank about the sales of the dollar
PUKmedia than (AFP) 05/02/2012 10:02:10
Central Bank of Iraq began this week, the application of new measures over the sales of the dollar, according to a senior official said the bank told AFP on Saturday, which led to a significant reduction in the rates of selling currency.
The decision comes amid suspicions of Iraqi officials about attempts to Iranian and Syrian traders buy the currency this difficult because of the sanctions imposed on both Iran and Syria, the depreciation of local currency in these two neighboring countries of Iraq.
The deputy governor of Central Bank of Iraq for the appearance of "We started on the first of the month of February the application of new regulatory instructions (...) provides for the bank to know who wants to get on the dollar for his clients who had asked him to buy the currency."
"The bank's customers to prove they have personal accounts in which money and have a base of actual information in the bank in addition to fixed income."
Saleh explained that the reason behind these actions goes back to that "a lot of buyers hiding behind other people, ie, that of not buying a real person."
The refusal in favor of this resolution linking the consequences of sanctions on Iran, Syria, said that "regional factors are important and workers especially Syria and Iran, because there is overlap between the trade of these countries as well as Turkey and Saudi Arabia, the Gulf."
He said Iraq has witnessed in the recent "gift in the demand for the dollar."
"When we saw that there is extra demand amid the complexities of regional, we want to check more in the nature of sales and customers."
These measures have caused a significant decrease in the rates of dollar selling in the auction, hosted by the Central Bank of Iraq every week between Sunday and Thursday.
Saleh said he was "on the first day we started the implementation of these measures we sold three million dollars only," after the sale of these rates of currency during the last three months, "about 200 million dollars in one day."
Figures published on the site of the Iraqi Central Bank, which has, according to the benefit of the dollar reserves of about $ 60 billion, said sales of the dollar on Thursday amounted to about four million dollars.
It is noteworthy that the rate of dollar sales in 2010 was only about 100 million dollars a day.
And interpreted for the significant reduction in the rates of recent sales of the dollar by saying that "customers may fear for their privacy of banking."
The Iraqi official stressed that "no U.S. pressure never us, and our friends the Americans never nothing to do with the subject (new measures)."
Iran faces financial penalties and Syria, which could moved it to the search for hard currency, which may be one of Iraq's main sources.
[You must be registered and logged in to see this link.]
