Central Bank calls for banks to get the right to sell the U.S. dollar

[RVPleaseToday]

I think the place of oil in all of this is overblown where the U.S. is concerned. We get only about 500,000 barrels a day from Iraq. We can, and do, get most of it much closer to home and from much more stable countries.

I'm afraid emphasizing the oil connection obfuscates what is going on much more than sheds much light on it.

Edited January 1, 2013 by RVPleaseToday

[Charlene]

If Banks intend to facilitate Internationally, they must be able to "sell" and "buy" like any real bank!

Sell and buy USD

Makes sense to me.

[Lenape]

I had to read this article again. It states that they (CBI) wish to slow the momentum of USD sales by allowing the private Banks to sell the USD instead of the citizen going to the currency dealers or outlets. This is the CBI's efferts to support the private Banks while controlling sales or the DEMAND for the USD. The people want USD because of it's strength. So at some point you would think these idiots(CBI)(GOI) will promote the Dinar by actually pulling the trigger and R/V.....IMO

By the way friends, I received my Warka interest payment right on time and I bet the CBI is full of Horse@#$!t when it threatend to shut down Warka!

Thanks, I just checked my account and I received mine also...Happy New Year

[Alexyn1006]

(A buy and sell article found by the illustrious Yota)

Director of private banks: central bank will open the foreign currency auction tomorrow despite the closure of the financial accounts

Date: 01/01/2013 12:08:53 Tuesday

Baghdad (news) .. According to Executive Director of the Association of private banks Abdul Aziz Hassoun, that the central bank has decided to open its auction public sector to buy and sell foreign currency on Wednesday, despite the fact that this week is a period of restoration and closure of the financial accounts for the year (2012).

said Hassoun (of the Agency news): The Central Bank new urges the application of the system in financial transactions by banks and importers to maintain the exchange rate of the dollar against the dinar in the local market. continued: So I decided not to close the auction for the sale of hard currency during the current week and Stfathh tomorrow so as not to market remains idle for a long time and a breach in the dollar exchange rate, although most of the financial institutions closed its financial accounts for the year (2012) during this week to begin calculations new in the first month of the new year. stressed the Iraqi Central Bank on the eighth of December, the current, on the application of the plans to control the stability Iraqi currency in local markets and the amount of hard currency in circulation. central bank held the Iraqi auction of five meetings weekly starting from Sunday to Thursday for the sale and purchase of foreign currency, and receive a commission for cash sales and transfers of about 13 dinars per dollar. / end / 8. d. Q /

http://www.ikhnews.c...n=view&id=69402

(Another from Yota...Thank you!!!)

CBI: we are going to open the door to get the right to sell the dollar for all Iraqi banks

01 January, 2013 05:47:00

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Confirmed the CBI said he was open to obtain the right to sell the dollar for all Iraqi banks.

said Central Bank Governor agency Abdel Basset Turki said the bank decided to open the door to all banks for window sell the currency from the beginning of next year, adding that this decision will reduce the effort on citizens to go to the outlets and currency will reduce the momentum would also bring the principle of justice for all private banks wishing to deal to sell the currency

for the citizens.

http://www.alfayhaa.tv/news/economy/93725.html