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The Central Bank intends to sell the currency adjustment controls

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The Central Bank intends to sell the currency adjustment controls

Omar Abdulrahman
04/07/2015

He said the Finance Committee in the House of Representatives member Abdul Qader Mohammed said the Iraqi Central Bank will change the process of selling hard currency controls.

And MP for Radio Free Iraq, "The most prominent of these controls is how to deal with banks, which caused the high value of the dollar against the Iraqi dinar, and the granting of security authorities a role to control the currency smuggling and money laundering operations."

A member of the economic and investment commission in the House of Representatives Najiba Najib said for its part that "the process of changing the central bank controls the currency auction sale process came late," adding that "it was possible to change these regulations before they are exposed to the collapse of the Iraqi dinar against the dollar."

He attributed that to the economic expert Reza Ragheb Blibl reason what happened from an unprecedented rise in the US dollar exchange rate to the House of Representatives as a result of the instructions and put it in the budget this year, which allowed the central bank selling $ 75 million a day. "

It is said that the dollar exchange rate has seen a few weeks ago a sudden rise against the Iraqi dinar what necessitated the intervention of the Central Bank to issue a number of current and future measures to decrease the volume.

http://www.iraqhurr.org/content/article/27109938.html

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