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Central Bank: we have three times the market needs of hard currency
On: Tuesday 2/7/2012 8:27
□ Baghdad / range
told the CBI that what is available has a hard currency than three times the needs of the Iraqi market, indicating that the Bank is exposed to "rumors" media are meant to destabilize the national economy. saw the price of the dollar relative to local currency increased during the past few days, which he attributed companies, local banking officials to stop the central bank sales of foreign currency.
and picked up local media reports of widening the sale of hard currency to Iranian businessmen
At border crossing points, especially in the province of Maysan, which has not been confirmed by the CBI.
Deputy Governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn), "We have been an economic strike, the Iraqi dinar semi-hard currency now, and available at the Central Bank of the hard currency than the needs of the Iraqi market three times. " He also explained that "there is a media campaign directed against the Iraqi economy, we do not know their origin or motivation, but we are watching." He said.
and a description of what is traded in the media to stop the bank to sell foreign currency or the smuggling of currency out of the country to "bubble policy" , noting that "the Central Bank of Iraq is primarily interested in economic security." And works according to the Iraqi Central Bank Law No. 56 of 2004, and held five meetings a week in the daily auction for the public sale of foreign currency. The main tasks of the Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector. In the meantime, the Central Bank described the case of high air bubble that the dollar will be gone blank and can be controlled, pointing at the same time have the highest balance of a cash reserve of up to (60) Mllardolar. Deputy Central Bank of the appearance of the benefit (of the Agency news): The case of the high dollar has recently received due to the weak local production and the withdrawal of foreign exchange by importing foreign goods and materials. He explained that the central bank began developing specific conditions for those wishing to buy the currency, including a certified check to prove his identity as the sale to (3) million after what was (200) million. It is noteworthy that the central bank has control over the liquidity by having a well thought out mechanisms such as the withdrawal from the market, the dinar against the dollar out, and this is the case of the balance sheet of the Central Bank which is one.
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