Economic parliamentary calls for CBI to set controls for the sale of currency
17/02/2012 15:02

Baghdad, February 17 (Rn) - The Economic Committee in the Iraqi Council of Representatives, Friday, Central Bank of Iraq to develop controls and monitor the sale of hard currency, at the time carried the government and the executive committees of an economic responsibility to the fake currency entering the Iraqi market.

money A member of the Committee Mahma Khalil told the Kurdish news agency (Rn) "We asked the central bank put controls on the sale of foreign currency because of wills Iraq comes through the sale of oil and the currency of the dollar is our credit only," adding, "we fear the vulnerability of the Iraqi currency against the dollar and afraid of the influence it" .

Khalil said that "under the Constitution, the central bank is linked to the House of Representatives and the Economic Commission is concerned to study the economic feasibility of the country," noting "so there must be controls to stabilize the Iraqi currency," adding, "We are afraid of smuggling the money out of Iraq."

He held Khalil government and the executive committees of an economic responsibility entry of counterfeit currency into the country and spread in the Iraqi markets, "calling to" prevent the entry of the currency and punish people who trade these currency (...) and the application of the law on accountability of people who enter the counterfeit currency of Iraq. "

The CBI said that the high exchange rates of U.S. dollar in the local markets of Iraq and the rise in sales to finance trade, other countries are neighbors, noting that it will reflect negatively on its reserves of hard currency.

And witness the exchange rate of U.S. dollar in the local markets about the Iraqi dinar increased significantly between 1221 to 1225 thousand Iraqi dinars to the dollar, while the exchange rate of U.S. dollar against the Iraqi dinar in the past year 2011 of 1180 dinars to the dollar.

The Central Bank of Iraq on the sixth of January, a rise in foreign currency reserves to $ 60 billion, after it had its reserves in 2010 had reached $ 58 billion.