Central Bank to take new measures to curb the smuggling of currency

[JustNTime]

Central Bank to take new measures to curb the smuggling of currency

MONDAY, FEBRUARY 20, 2012 14:50

Twilight News / revealed the parliamentary Economic Committee, on Monday, the central bank to take new measures he described as "deterrent" to the extent of smuggling foreign currency out of the country.

A member of the parliamentary Economic Committee Abdul-Hussein Abtan in an interview with " Twilight News "that his committee met today with representatives of the Central Bank of Iraq to determine the conditions of monetary policy in the country in general, and on the price of the dinar against the dollar.

The Abtan that "the central bank will take new measures deterrent to curb the smuggling of foreign currency abroad, and will be announced during the next two days," stressing that the House of Representatives supports the political Central Bank of Iraq, and the comfort of his work to preserve the Iraqi currency. "

Abtan added that "the turmoil in neighboring countries, does not mean the inability to maintain its currency and foreign currency in his," pointing out that "there are points of (unnamed) is leading a campaign to undermine the Iraqi economy and its monetary policy."

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

The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that fund the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash, Omaly the form of money orders sold out for a commission of certain.

According to some press reports and on the lips of Iraqi merchants to the existence of smuggling operations to the states of Iran and Syria because of that seen in the first of the economic blockade imposed by the United States of America, and was the second to the ongoing protests and acts of violence to topple Basharalassad.

http://www.shafaaq.com/sh2/news/economy-news/37680-2012-02-20-11-54-55.html

[Butifldrm]

OOOH I like this alot! Thanks JustNTime, your on a roll today!

[fnbplanet]

Seems that their auction controls aren't working well enough, or slowing down what they wish to accomplish through them. Other than the obvious RV, does anyone have any other ideas on how they can control the USD leaking out of the country? Closing the borders?

IF they could close the borders, it would have to be in conjunction with enacting.......wait for it...........the Tariff laws.

[geman]

Central Bank to take new measures to curb the smuggling of currency

MONDAY, FEBRUARY 20, 2012 14:50

Twilight News / revealed the parliamentary Economic Committee, on Monday, the central bank to take new measures he described as "deterrent" to the extent of smuggling foreign currency out of the country.

A member of the parliamentary Economic Committee Abdul-Hussein Abtan in an interview with " Twilight News "that his committee met today with representatives of the Central Bank of Iraq to determine the conditions of monetary policy in the country in general, and on the price of the dinar against the dollar.

The Abtan that "the central bank will take new measures deterrent to curb the smuggling of foreign currency abroad, and will be announced during the next two days," stressing that the House of Representatives supports the political Central Bank of Iraq, and the comfort of his work to preserve the Iraqi currency. "

Abtan added that "the turmoil in neighboring countries, does not mean the inability to maintain its currency and foreign currency in his," pointing out that "there are points of (unnamed) is leading a campaign to undermine the Iraqi economy and its monetary policy."

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

The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that fund the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash, Omaly the form of money orders sold out for a commission of certain.

According to some press reports and on the lips of Iraqi merchants to the existence of smuggling operations to the states of Iran and Syria because of that seen in the first of the economic blockade imposed by the United States of America, and was the second to the ongoing protests and acts of violence to topple Basharalassad.

http://www.shafaaq.com/sh2/news/economy-news/37680-2012-02-20-11-54-55.html

who is under minding them Iran? I'm sure they don't want Irac to pick up there slack on pumping oil. it's just funny are gas prices are going thru roof and Irac has how much

[edbeach]

Good article could the new measures deterrent to curb the smuggling announced during next two days be what we waiting for RV Just a thought of wishful thinking I guess.