New controls to stabilize exchange rate of IQD; CH VII lift will reflect positively on exchange rate

Posted by on Oct 27, 2013 | Leave a Comment

| On 2013-07-22
A member of the Finance Committee predicted Dler capable of improving the Iraqi dinar exchange rate and significantly against the U.S. dollar after the necessary measures taken by the central bank and out of Iraq from the provisions of Chapter VII.

He said: “The Central Bank will take new measures and controls which supports the stability of the exchange rate of the Iraqi dinar against the U.S. dollar, where the correction of the errors will be signed by the Bank during the past period and that led to the low price of the Iraqi dinar.”

He added: “The withdrawal of Iraq from Chapter VII of the UN and will contribute significantly to support the exchange rate of the dinar because it would stimulate trade and economic movement of the country with various countries of the world and therefore will reflect positively on the exchange rate of the dinar against the hard currencies.”

The central bank announced its intention to take measures and new regulations for the sale of hard currency to support and stabilize the exchange rate of the Iraqi dinar against the U.S. dollar.

And witnessed the exchange rate of the Iraqi dinar declined severely over the past few months, generating a great upheaval in the local market.

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