View Full Version : Financial representative calls for CBI to maintain dinar value against hard currency

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11-04-2013, 01:01 AM
Financial representative calls for the Central Bank to maintain the value of the dinar against hard currency (http://www.alghadpress.com/ar/NewsDetails.aspx?NewsID=5100)


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13/11/03 17: 52

Tomorrow/Baghdad: parliamentary Finance Committee member, called Hassan Al-Bayati, the Iraqi Central Bank to maintain the value of the dinar against foreign currencies, saying that the duties of the Bank.

Al-Bayati said, "tomorrow", "duties of the Central Bank of Iraq to maintain balance of Iraqi currency with FX for the protection of the citizen and the State of inflation in the currency," the World Bank "to develop a mechanism to balance the domestic process with global currency in Iraq."

Al-Bayati said that "on the Central Bank to pump foreign currency into the market until there is a balance between local currency and foreign currency because this would raise the value of the dinar against the dollar until there is smuggling hard currency out of the country."

CBI convenes meetings daily to buy and sell foreign currency with the participation of Iraqi banks, with the exception of public holidays where the Bank auctions, sales are either critically or in the form of money orders sold abroad in return for Commission.