Decided to open new windows for banking companies and small importers
Central Bank decided to double the share of banking companies of the dollar.
The bank said it also decided to allow banks Rafidain and Rasheed and Iraqi trade open windows to sell the dollar companies and small importers.
According to the Central Bank of the purpose behind it is to reduce the price of the dollar in the Iraqi market. In addition, the central bank said yesterday that he decided to take action to stop the decline of the local currency (the dinar) against the dollar in the local foreign exchange market, by doubling the share exchange companies in auctions selling foreign exchange.
And opened outlets to sell the dollar in a number of banks Aovernmah.otraja Iraqi dinar exchange rate against the US dollar in the local foreign exchange market to reach its lowest level in almost two years. The dollar stood before yesterday dinars in 1350, compared to 1280 dinars in the past week, up 5.5 percent.
The bank said it decided to allow banks Rafidain and Rasheed, and the Iraqi Trade (government) to open outlets to sell the dollar companies and small importers.
In a report issued on 19 March, the International Monetary Fund cut its forecast for the growth of the Iraqi economy to 1% during the current year, from a previous forecast last January, a growth of 2.5%, in line with current expectations recent government estimates of the Central Bank of Iraq. Fund report estimated the Iraqi economy to achieve a contraction of 2% in 2014. For their part, said economists and traders Iraqi Iraqi markets are experiencing a recession clearly affected by the financial crisis plaguing the country. Reflected this notoriously on commercial traffic - especially with the rise in the dollar exchange rate - and also the government's delay in salary payments.
The case of the recession to pay merchants to sell their goods on credit (and subsequent payment). Some also saw an increase in the prices of goods compared to the end of last year amid rising dollar exchange rate against the Iraqi dinar to its highest level in almost two years.
Economy Trade Dollar dinar Iraqi Rafidain Bank
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