Sales of the dollar in daily auction of the central excess of $ 200 million

[Azsunshine]

Sales of the dollar in daily auction of the central excess of $ 200 million

Monday, March 19, 2012 09:24

BAGHDAD / Baghdadiya News / .. Deputy Governor of the Central Bank of the appearance of the benefit that sales of the dollar in daily auction of the central exceeded the $ 200 million during the last two days,

He pointed out that demand for the dollar is still abnormally. Saleh said L / Baghdadiya News / “The sales of the dollar in daily auction of foreign currency at the Central Bank during the last two days over two hundred million dollars for the day after the decline was preferred regulatory instructions that were issued after the” attack the currency, “in which he was the auction, which affected the increase the demand for currency is strange is not commensurate with the needs of the Iraqi economy of hard currency. ”

And the benefit of that “when you check a lot of requests for purchase of foreign currency found to be vague, saying that the auction window to buy foreign currency and is dedicated to the Iraqis to meet their needs, the demand for foreign currency means the request for access to goods and services and the benefits of foreign.” The central bank reported having taken new measures to track customers buy the dollar, and that he would cut sales of 200 million to $ 30 million.

The deputy governor of the Central Bank of the appearance of Mohammed / the Baghdadi News / dollar exchange rate that day was the result of central bank’s decision Ptkhvd sales in daily currency auction of $ 200 million to $ 30 million.

He explained the benefit: a reduction of sales that were part of the action taken to follow the customers buy the currency by demanding the disclosure of their hobbies.

And the benefit of those who want to buy dollar deal from the central bank should disclose their identities because these sales are not retail but wholesale and numbers are enormous.

He said the move was not to assess the economic activity it was introduced a measure to regulate the sale of the currency, adding that Central did not respond to any pressure at the expense of national security.

He said the bank continues to sell at the same price to be adopted by one day and is ready to meet the needs of all economic activity is over / 26

albaghdadianews.com

[one2one]

where are they getting these dollars from ?

and why sell dollars instead of their own currency ?

[Azsunshine]

where are they getting these dollars from ?

and why sell dollars instead of their own currency ?

In 2003, the Central Bank adopted a new mechanism to maintain the dinar’s exchange rate. It created a foreign exchange auction to sell dollars that Iraq obtained from the sale of oil in the global markets and then transferred to the bank to sell in local currency, which helped raise the value of the dinar over the last few years.

The Central Bank sells, through a daily auction, between $150 million dollars and $190 million dollars daily to clients of private banks and the financial companies. (Source: www.yallafinance.com)

Edited March 19, 2012 by Azsunshine