Markinsa Posted February 11, 2012 Report Share Posted February 11, 2012 CBI apply new measures to track the customers dollar Currency smuggling to Iran and Syria 2012-02-10 10/02/2012 Central Bank of Iraq began this week about the new measures on sales of the dollar, according to a senior official said the bank told AFP, which led to a significant reduction in the rates of selling currency. The decision comes amid suspicions of Iraqi officials about attempts traders Iranian and Syrian purchase of hard currency this because of the sanctions imposed on Iran, Syria, and the depreciation of local currency in these two neighboring countries of Iraq. Deputy Governor of the Central Bank of Iraq the appearance of favor, "we started on the first of February, the application of Help new regulatory states that the bank knows who wants to get on the dollar for his clients who had asked him to buy the currency. " He added that the bank's customers to prove they have personal accounts in which money and have a base of actual information in the bank as well as fixed income. Saleh pointed out that the reason behind these actions goes back to the buyers that a lot of hiding behind other people, buy any of that is not a real person. The refusal in favor of this resolution linking the consequences of sanctions on Iran, Syria, said that regional factors are important and workers especially Syria and Iran, because there is overlap between the trade of these countries as well as Turkey and Saudi Arabia, the Gulf. He said Iraq has witnessed in the recent "gift in the demand for the dollar." "When we saw that there is extra demand amid the complexities of regional, we wanted to check more in the nature of sales and customers." These measures have caused a significant decrease in the rates of dollar selling in the auction, hosted by the Central Bank of Iraq every week between Sunday and Thursday. Saleh said he was "on the first day we started the implementation of these measures we sold three million dollars only," after the sale of these rates of currency during the last three months, "about 200 million dollars in one day." Showed figures published on the Central Bank of Iraq, according to who has the benefit of the dollar reserves of about $ 60 billion, said sales of the dollar on Thursday amounted to about four million dollars. It is noteworthy that the rate of dollar sales in 2010 was only about 100 million dollars a day. And interpreted for the significant reduction in the rates of recent sales of the dollar by saying that "customers may fear for their privacy of banking." The Iraqi official said, "No U.S. pressure on us at all, and our friends the Americans never nothing to do with the subject (new measures)." Iran faces financial penalties and Syria, which could moved it to the search for hard currency, which may be one of Iraq's main sources - 8 1 Link to comment Share on other sites More sharing options...
Butifldrm Posted February 11, 2012 Report Share Posted February 11, 2012 Markinsa, I am so sorry, I tried to plus you on my iPad and accidentally neg'd you. So sorry again, I really liked the article. Link to comment Share on other sites More sharing options...
jetphyxr Posted February 11, 2012 Report Share Posted February 11, 2012 Good article. +1 evened you out. Link to comment Share on other sites More sharing options...
Carrello Posted February 11, 2012 Report Share Posted February 11, 2012 +1 me too! Got ya'. Link to comment Share on other sites More sharing options...
Markinsa Posted February 11, 2012 Author Report Share Posted February 11, 2012 Markinsa, I am so sorry, I tried to plus you on my iPad and accidentally neg'd you. So sorry again, I really liked the article. - 1 Link to comment Share on other sites More sharing options...
R Veyron Posted February 11, 2012 Report Share Posted February 11, 2012 Either this article came out earlier this past week or it is just a similar one but it is still a good one. Thanks. Link to comment Share on other sites More sharing options...
Rubberband King Posted February 11, 2012 Report Share Posted February 11, 2012 Great post Link to comment Share on other sites More sharing options...
fnbplanet Posted February 11, 2012 Report Share Posted February 11, 2012 Wonder how long it will take for the Syrians and Iranians to suck the last of the USD off of the Iraqi street. Estimates are that 40% of the cash that they've been using day to day is greenbacks. My guess is that it won't be long. Link to comment Share on other sites More sharing options...
R Veyron Posted February 11, 2012 Report Share Posted February 11, 2012 Wonder how long it will take for the Syrians and Iranians to suck the last of the USD off of the Iraqi street. Estimates are that 40% of the cash that they've been using day to day is greenbacks. My guess is that it won't be long. I agree and I also think that once this occurs this could cause the value of the dinar to increase due to the demand. Both syria and Iran are facing tighter sanctions and economic collapse so their currency won't be wont very much. Link to comment Share on other sites More sharing options...
OldSignalOfficer Posted February 11, 2012 Report Share Posted February 11, 2012 Notice that the amount in dollar sales is slowly coming back up. The banks are finding ways to work around the new requirements. It's all about working the system to get what you want. Link to comment Share on other sites More sharing options...
Recommended Posts