The parliamentary Finance Committee, suggested Sunday, canceling an auction of foreign currency at the Central Bank, saying it would lead to lower prices for the Iraqi dinar.
The Committee Member said Masood Haider agency/information/the "Finance Committee submitted a proposal to cancel the auction at the Central Bank, with the aim of reducing foreign currency rate for the Iraqi dinar."
Haider said that the proposed "stressed the need to replace the auction process for the distribution of foreign currency to private banks and Government in a fair way as competition, because the auction was the impact on the Iraqi economy and led to his hemorrhage," he said, adding that this "would lead to lower the exchange rate of foreign currency either Iraqi dinar".
The past few weeks have seen a marked increase in the rate of the Iraqi dinar against foreign currencies, while sales of Central Bank to those currencies is reduced. Over 25 t
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