Private banks to support the central bank decisions and stresses: will contribute to reducing the price of the dollar

BAGHDAD / long-Presse

It expressed Association of private banks in Iraq, its support for the decisions of the central bank to reduce the period for the deposit amounts and to consider Saturday a regular working day, while confirming that these measures will contribute to reducing the dollar's exchange rate.

The head of the Association of private banks in Iraq and Wadih Handal, in a statement received (range Press), a copy of it, that "the Central Bank of Iraq is trying through the procedures and mechanisms in place to support the Iraqi dinar and the creation of appropriate banking business atmosphere in collaboration with the private banks as a team solidarity."

Handal added, that "the central bank's recent decision to increase the auction business days on Saturday and considered normal business day for banks to meet the requests of foreign currency, came in tune with the banks to meet the need of foreign currency" dollar "and facilitate the work of the banks."

The Handal, that "other decision to reduce the period of deposit for amounts from ten days to five will contribute directly to reducing the dollar's exchange rate against the dinar and this is what Senlahza during the next few days," noting that "the Association will be supportive of the decision to serve the public interest."
Economists attributed the rise in the dollar's exchange rate against the dinar to the floundering economic policy, and the neglect of the productive sector, while the Parliamentary Finance Committee confirmed that the concerned state has taken action to support the value of the dinar, including increasing the supply of dollars in the market and acceptance of all purchases made by dealers and corporate banking, banking applications package , and the abolition of tax and customs secretariats that were collected in advance by eight percent.

And it decided the Central Bank of Iraq, Tuesday, (June 16, 2015), considered Saturday formally durable, to meet the need of banks currency, noting that it reduced the duration of the special deposit amounts from ten to five days.

And it saw the dollar exchange rate steady rise in the local markets, from about 1200 dinars to the dollar, the beginning of the current 2015 to 1400 dinars currently.