Economist Opinion: Private banks selling the dollar at a lower rate than the CBI would support the stability of the dinar exchange rate

Posted by on Oct 26, 2013 | Leave a Comment

20-06-2013 03:36 PM

Baghdad (newsletter). Commended the Committee for economy and investment representative step some private banks to sell foreign currency at a lower price than the advertised price by the Central Bank, which will contribute to the stability of the exchange rate of the Iraqi dinar against the US dollar.

The Rapporteur of the Committee, said MP/Kurdish/Actel Coalition mehma Khalil (News Agency): civil and State banks have a link with the Central Bank in the sale and purchase of foreign currency in order to convey to citizens, whether inside or outside Iraq.

He added: the dollar at the Central Bank of Iraq and installed in the federal budget (1166), sold to local banks to price (1179) to (13) of every dollar Commission, and in turn sold to banks and venture capitalists at the price (1189).

And: to go by some banks to sell the dollar capacity less than the advertised price is a positive step towards the support and stability of the dinar exchange rate fluctuated sharply in price during the current period.

The three banks declared eligible to sell the dollar at a lower price than announced by the Central Bank to support the Iraqi dinar exchange rate

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