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CBI: Exchange rate should stabilize in about 4 months

Posted: May 16, 2012 in Iraqi Dinar/Politics
Tags: bank, Central bank, Deputy Governor, Economy of Iraq, exchange rate, Iraq, iraqi, Iraqi dinar

CBI: the return of the dollar exchange rate to 120 during the day

The central bank said that the exchange rate of the dinar against the dollar will return to normal by about the former “120-121″ in a few days, criticizing the lack of government control over the attack, which targeted the regional Iraqi market.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh, said that “the Bank is dominated by heavily on the problem of the high exchange rate of the dinar, which is temporary and caused by the attack on the Iraqi market of some regional countries as a result the surrounding circumstances as well as trade openness-free controls sober.”

Saleh added that “the exchange rate of the dinar against the dollar will return gradually to the previous position of” 120-121 “after the Bank to study the problem of the rise and develop solutions based on Iraq’s economy strong and the high financial potential, which is the best thing is now.”

The Deputy Governor of the Central Bank, “The coming days will witness a decline at an exchange rate of the dinar and the end of the rise of the dollar in the Iraqi market and its stability over its past.”

He referred to “the need to develop solutions and new controls for the development of goods and trade inflows into the country to help the low price of the dollar against the Iraqi dinar is the largest and maintain the purchasing power of the Iraqi currency against world currencies,” noting “the end of the course of regional undertaken by the countries surrounding the country in the last period, which led to the instability of the Iraqi market and the rise of the dollar significantly.

 


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