Iraqi parliament supports the actions of the central bank to ensure the stability of the dinar

Iraqi parliament supports the actions of the central bank to ensure the stability of the dinar
Sunday, May 12 / May 2013 18:03

Twilight News / announced the Presidency of the Council of Representatives, on Sunday, its full support for the action the central bank intends to take to ensure the stability of the Iraqi currency after it experienced a decline in value against the dollar to a record level in two years.
[You must be registered and logged in to see this image.] 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.
The Finance Committee in the House of Representatives revealed, early last month, the start of the Iraqi Central Bank to take urgent action to preserve the stability of the exchange rate of the Iraqi dinar against the dollar by increasing outlets selling hard currency, but the value of the currency has continued to decline.
A statement from the House of Representatives reportedly for "Twilight News", the Presidency of the Council of Representatives headed by Osama Abdul Aziz Najafi, Chairman of the Board and the presence of Qusay al-Suhail, First Deputy Speaker of the House and Aref Tayfur, Vice President of the Council met with the President of the Audit Court and the Governor of Central Bank of Iraq and the Agency Abdul Basit Turki " .
And the Presidency of the Council expressed during the meeting for "full support for the central bank to scrutinize the work of private banks and archiving of information within the bank and reform measures that include adjust the exchange rate of the dollar and reduce the phenomenon of money laundering and strengthen the capacity of the central bank in economic development."
According to the statement, the meeting dealt with the role of the House of Representatives in issuing decisions in order to protect Iraq's money for the next year and address the issue of debt and push focus of the international effort to protect Iraqi funds abroad.
Iraq looks forward to the United States to protect its assets and reserves of the Central Bank and the Development Fund for Iraq in the next year and vaccinated against creditors.
The U.S. President Barack Obama signed an executive order last year to extend immunity to Iraqi funds in the Development Fund for Iraq for a year, due to the situation in Iraq.
It seems that confidence in Iraqi تزعزت currency after a government decision to oust former Central Bank Governor Sinan al-Shabibi and tense security situation in an unprecedented manner during the past few weeks.

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Hmmmm oil reserves to back their currency! Who woulda think it!