CBI: our actions do not target restriction

[yota691]

CBI: our actions do not target restriction

security guard at the entrance of the CBI

Mohammad Karim

19.02.2012

Central Bank of Iraq confirms that the application procedures initiated since the beginning of this month, with dealers and private auction for the sale of the U.S. dollar is the procedure for "auditing and regulatory and not restrictive."

In an interview with Radio Free Iraq, the Deputy Governor of the Bank Mazhar Mohammad Saleh said that these actions Almtl_khash that "the transaction with the auction dollar of Iraqis exclusively who had a current account in a bank approved and that a trader in support of its bank facility instrument provided for the purchase of the currency," comes within the framework application of the law against money laundering in 2004 and face the phenomenon of attack rates recorded by the auction since December 2011 last, which rose with the size of the daily demand for dollar 120 million to 420 million U.S. dollars was mostly for trade finance for both Syria and Iran Alkhadotain to UN economic sanctions.

As the benefit of the central bank "can not be imposed any restrictive measures that Iraq is committed to free trade and open market economy, which means that the freedom of financial transfer is guaranteed for all is to be within the guidelines," stressing that what resulted from the application of regulatory recent rise in the exchange rate of the dinar against the dollar of 1180 to 1220 dinars to the dollar "is in fact a bubble forming in the process of disappearing soon in light of the power of the Iraqi currency and owned by the central cash reserves sufficient."

Economists have expressed their part for not convinced by what the central bank that the reason for the phenomenon of currency attack witnessed by the Bank auction is for the Iraqi private sector financing of trade both Syria and Iran. In expressing this opinion, said professor of economics at the University Mustansiriya Abd al-Rahman al-Mashhadani, that "the real reason behind the phenomenon of rising demand for the dollar is the evacuation of U.S. forces from the country late last year, where she was funded by the local market portion considerable amount of currency the dollar through the payment of salaries large numbers of Iraqi contractors to work with them, let alone buy a lot of goods and services from local merchants, money goes to the whole banking companies and shops that the Iraqi dinar is the official currency trading in the market. "

http://translate.google.com/translate?hl=en&ie=UTF8&langpair=ar%7Cen&rurl=translate.google.com&u=http://www.iraqhurr.org/content/article/24489021.html

Edited February 19, 2012 by yota691

[tamiflyer]

"recent rise in the exchange rate of the dinar against the dollar of 1180 to 1220 dinars to the dollar" is in fact a bubble forming in the process of disappearing soon in light of the power of the Iraqi currency and owned by the central cash reserves sufficient."

I like this part. Fact and disappearing soon! Thank you for your post. GLTA and Go RV.

[Griffster]

Well, I think they'll just need to RV that Dinar and make it publicly traded (and no it technically isn't). Soon folks it'll be some sort of pay day. I dunno how much we'll really see, with rates like $8.50 and $12.00 I can't help feeling it'll be less. I guess even if its a penny it's more money then most of us see in returns these days.

Go RV

[Butifldrm]

the Iraqi dinar is the official currency trading in the market. "

sure it is?