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Instead of the Iraqi Central Bank to trade: the auction currency

Ali Salman on 26/04/2012 m-3: 26 pm | Hits: 18

Instead of the Iraqi central Bank: to trade the currency auction

Baghdad Economic Affairs Editor baratha news

After the Central Bank announced its intention to abandon the currency auction for one Iraqi banks, the parliamentary Finance Committee revealed outweighed the Iraqi bank attaches to trade this auction.

Member of the parliamentary Finance Committee Secretary Hadi Abbas, "Central Bank of Iraq intended to deliver a good Iraqi banks to trade Iraqi responsibility for an auction sale of the dollar".

Abbas said that the Central Bank wants to get rid of dollar fluctuations mobilized, especially after he became the demand for the dollar from the few".

And Abbas that the demand for the dollar from the Central Bank declined due to difficult procedures undertaken by the Bank and increased worse."

He noted that "the Iraqi bank of Commerce probably is who will sell the dollar being possessed auction a good mechanism", a carrier on a modern Bank officials that they have the possibility to buy a large amount of dollars."

He is a member of the parliamentary Finance Committee that "this step to solve the problem of fluctuating dollar and work on this procedure.

The Director-General of the Iraqi bank of the trade agency said in a statement received a copy, the baratha news that Bank of Commerce issued during the first quarter of the current year, 333 depending webakiam exceeded three billion and $1.5 billion, marking an increase of 8% from the first quarter of last year."

Noting that "1.6 appropriations issued by the Bank since its inception in 2003 until now bypassed the barrier of 50 billion dollars", noting that "such a level of 1.6 to appropriations cannot be achieved under the constraints in the process of banking".