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Central Bank Crisis – Deputy Warn of Shaking the Dinar Exchange Rate
Arranged by S. Seal - [10/24/2012]
Baghdad – The present central bank crisis situation shook the world and to cope with it Iraqi attorney suggested not changing the exchange rate of Iraqi dinar against the US dollar.
Said alshazar reported on Saturday that Iraq should take quality measures while dealing with Central Bank. It should be passed under strong scrutinizing and motoring process on the issue of violations of the sale of hard currency in the auction. He also added, financial institution depends on the degree of credibility and reliability of your party, if not confident central bank managers, this will reflect badly on the financial system in the country, which will affect foreign dealings with global banks.
He is also anticipating that the continuation of the current Central Bank crisis between his departments, will lead to delay working rate with Central Bank’s auction. This will affect the dinar against hard currencies. Finding a solution of this crisis to maintain country’s fiscal policy is really important now.
Source: [AL Ikhbarya News Agency]
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