Bank official is expected to continue a volatile dinar exchange rate in the near term

[yota691]

Bank official is expected to continue a volatile dinar exchange rate in the near term

Saturday 30-05-2015 | 2:47:57

 

 

 

 

 

Iraqi dinar - for h / p p

Twilight News / Iraqi banking official predicted on Saturday continued fluctuation of the dinar exchange rate against the dollar in the near term due to increased demand for hard currency, after the financial authorities recently taken new measures in an effort to support the local currency.

The record of the Iraqi dinar significant decline against the dollar for the first time in years, the exchange rate was about 1230 dinars to the dollar after it was flat for the past years by about 1220 dinars to the dollar.

A member of the administrative board of the Central Bank to Twilight News that "the approved measures to increase the supply of the dollar in the Iraqi market has been unable to cover the increasing demand for the dollar, presumably to other government agencies outside the central bank, banks should take other measures to combat capital flight operations."

He added that "the Iraqi Central Bank grants $ 125 thousand for each banking institution in the country," pointing out that "financial speculation and lack of security and political stability in the country helped the decline of the Iraqi dinar exchange rate."

The central bank sells at auction its currency per US dollar to 1179 dinars, private banks and the companies, but it does not sell directly to the citizens, while private banks authorized to sell to sell the currency, the dollar B1189 dinars, for citizens directly.

 

[Zebra0101]

Thanks Yota!

But I must be missing something...Volatile exchange rate???

[italiancat]

Thanks Yota!

But I must be missing something...Volatile exchange rate???

[italiancat]

Yeah. Its the rate at which they keep changing their minds about increasing the value of their currency. Increase, no decrease. Increase, no decrease.....and so on until we hear "I am soooo confused I don't know what I want to do."

[Nelg]

[Candy01]

italiancat,

 

I am WITH YOU!!

 

[Laid Back]

Iraqi banking official predicted on Saturday continued fluctuation of the dinar exchange rate against the dollar in the near term due to increased demand for hard currency,

No one in Iraq wants to use the devalued dinar... No purchasing power

Dollar is king.!,

The CBI continues reducing the note count and dollarizing the country

Dollarize... RV... De-dollarize

[pocono]

Do you have any evidence to suggest the CBI is reducing the note count?

[blueskyline]

Is the dinar about to be considered a Hard currency.........?

[10 YEARS LATER]

This is such Folly. . .

[sandfly]

THANKS

[yota691]

Expectations constantly fluctuating dinar exchange rate in the near term

31/05/2015 10:26 | Number of Views: 124
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Direction Press

Iraqi banking official predicted continuing volatility of the dinar exchange rate against the dollar in the near term due to increased demand for hard currency, after the financial authorities recently taken new measures in an effort to support the local currency.

 

The record of the Iraqi dinar significant decline against the dollar for the first time in years, the exchange rate was about 1230 dinars to the dollar after it was flat for the past years by about 1220 dinars to the dollar.

 

A member of the administrative board of the Central Bank said that "the approved measures to increase the supply of the dollar in the Iraqi market has been unable to cover the increasing demand for the dollar, presumably to other government agencies outside the central bank, banks should take other measures to combat capital flight operations."

 

He added that "the Iraqi Central Bank grants $ 125 thousand for each banking institution in the country," pointing out that "financial speculation and lack of security and political stability in the country helped the decline of the Iraqi dinar exchange rate."

 

The central bank sells at auction its currency per US dollar to 1179 dinars, private banks and the companies, but it does not sell directly to the citizens, while private banks authorized to sell to sell the currency, the dollar B1189 dinars, for citizens directly.

[yota691]

Expectations constantly fluctuating dinar exchange rate in the near term                                                                                                                                                                                            Hits: 19 Published on: Today, 17:16 Published by: Messenger Delphi   Iraqi banking official predicted continuing volatility of the dinar exchange rate against the dollar in the near term due to increased demand for hard currency, after the financial authorities recently taken new measures in an effort to support the local currency.   A member of the administrative board of the Central Bank said that "the approved measures to increase the supply of the dollar in the Iraqi market has been unable to cover the increasing demand for the dollar, presumably to other government agencies outside the central bank, banks should take other measures to combat capital flight operations."   He added that "the Iraqi Central Bank grants $ 125 thousand for each banking institution in the country," pointing out that "financial speculation and lack of security and political stability in the country helped the decline of the Iraqi dinar exchange rate."