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Central eliminates amounts of foreign currency ceilings for the purposes of conversion

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Central eliminates amounts of foreign currency ceilings for the purposes of conversion

Issue no: 2586 Issue Date: 10/03/2012 Day: Wednesday
Last Update: 10/03/2012

BAGHDAD - A follow-up

Central Bank announced revoke ceilings amounts of foreign currency sold to banks daily for the purposes of conversion, doubling the foreign currency ceilings sold in cash to banks every week, as well as clear the price of buying and selling currency to domestic banks.

A statement of the Central Bank Governor of the Central Bank and the appearance of Mohammed Saleh agency, as saying that the central decided to "modify instructions foreign currency auction as part of his quest to move to a system free and open exchange." According to the statement, the amendments included "cancel roofs amounts of foreign currency sold to banks daily for the purposes of conversion," as was "doubling foreign currency ceilings sold in cash to banks every week." Also entitled to banks under the new regulations, "determine the price of buying and selling foreign currency to their customers and canceled selections price previous", as well as the "sale of foreign exchange by banks to customers up to five thousand dollars in cash to the customer for highlighting identity card, with cancellation terms and other details previous ". Central bank in a statement said he will continue to coordinate and cooperate with the concerned authorities in the fight against money laundering and money, crime and terrorism, Wi illegal instructions.

The central bank held the Iraqi auction of five meetings a week starting from Sunday to Thursday for the sale and purchase of foreign currency, and receive a cash commission on the sale and transfers of about 13 dinars per dollar.

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