Increase in Dinar Value Is Due to Central Bank’s Regulatory Procedures, Says Parliamentary Committee
| May 27, 2012 | Filled under Featured Article |
BAGHDAD, (AKnews) – The Iraqi parliament’s finance committee stated yesterday that applying its proposal submitted to the Central Bank of Iraq (ICB) about increasing the number of agencies responsible for the sale of hard currency has contributed to raising the value of the dinar against the US dollar
The presence of Rafidain and Rasheed banks has increased the number of agencies responsible for the sale of hard currency.
Finance committee member Hadi Amin said: “This action contributed to raising the value of the Iraqi dinar against the dollar and the central bank will keep, in its procedures, the stability of this state.”
The ICB acknowledged earlier the presence of an imbalance in the Iraqi dinar exchange rate and confirmed its quest to unify the exchange rate between it and the local markets. The ICB at the same time denied any deterioration in the value of Iraqi dinar.
The price of the Iraqi dinar witnessed a decline during the last few weeks, with the exchange rate reaching about 1,127 dinars for one US dollar in the local market.
Officials in local banks attributed this to the ICB’s further procedures in the auction sale of foreign currency.
Local media reports stated that the issue of smuggling hard currency from Iraq to Syria and Iran on the border crossing points is increasing but this was not confirmed by the ICB.
^
^
^
^
^
Related Iraqi Articles-
WILL THE IRAQI DINAR BE REVALUED?
Iraqi Dinar: Scam or God-Send?
Central Bank Reveals Details of the Iraqi Currency
Cancellation of “Zeros” from Iraqi Currency Won’t Solve Iraq’s Economic Crisis
Iraqi Dinars: Smart Investment or Smoke and Mirrors?
Iraqi Dinar Revaluation Soon
Iraq Dinar Value Seems Likely To Significantly Increase
The Recent Iraq 2011 Budget May Have Leaked the Coming Currency Revaluation
Buy New Iraqi Dinars and Put Them in a Drawer
Columbus Hooters to Visit Iraq, Kuwa
Iraqi Dinar Trade – What Next After the Revaluation?
The Deletion of Three Zeroes From the Iraqi Currency Is a National Demand
Investing in Iraq- What Investors Have Been Waiting For
Crisis of Fiat Currencies: US Dollar Surpluses Converted Into Gold
Gold Dinar Will End Currency Wars
Recent Comments