Central Bank Begins Next Month, the Application of Measures to Reduce Exchange Rate Volatility
|May 30, 2013||Filled under Featured Article|
Twilight News / confirmed the parliamentary Finance Committee, Wednesday, the Central Bank of Iraq next month will begin implementation of a package of measures designed to restore the exchange rate of the dollar against the Iraqi dinar to normal to prevent a repeat of the case of exchange rate volatility.
And plunged the value of the Iraqi dinar gradually over the past weeks to reach the price per dollar to about 1129 dinars after it had been stable for 1120, the highest rate up to the exchange rate during the past two years.
Committee member said Haitham al-Jubouri’s “Twilight News” that “the CBI told the Finance Committee that will begin next month, the application of measures to curb the rise of the dollar against the Iraqi dinar, and some of these measures did not disclose the details they will be strictly confidential.”
Jubouri explained that “one of the most prominent measures that the Iraqi Central Bank will begin to apply is to open letters of credit in the government and private banks,” noting that “the Finance Committee has informed the Iraqi Central Bank support for all procedures in reducing the rise in the dollar against the Iraqi dinar.”
The Finance Committee has ضيفت this month and central bank governor Abdul Basit Turki agency and discussed with him the reasons for the high price of the dollar against the Iraqi dinar.
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