Since 03/01/2017 14:34 pm (Baghdad time)
Baghdad balances News
The Central Bank of Iraq, on Wednesday, for clarification on the decline in the dollar exchange rate against the Iraqi dinar, attributing the cause to the implementation of the new system applied to window selling foreign currency.
According to a statement of the bank received / balances News / copy of it, "Implementation of the new system, the application window to sell foreign currency in the bank led to a marked decline in the exchange rate of the dollar against the Iraqi dinar."
He said: "Where the new system removed the middlemen and hackers by changing requirements and actions toward simplification and transparency in the sale of foreign currency window operations, as the new system provides for a window competition between banks on the basis of the extent of compliance with the rules to combat money laundering and terrorist financing."
The bank, according to the statement, that "the new system's success and cooperation with the Iraqi banks are encouraged to take additional measures that the legitimate demand for the dollar to cover, all the way to the target through the implementation of programs and new standards and rules check the clarity and transparency of these operations the price."
The statement said, "This bank indicates that control of the exchange rates in light of the challenges of economic, financial and security situations are recorded monetary policy success in absorbing large shocks to Iraq, will have to improve oil prices and the elimination of al Daesh terrorist significant impact in supporting the country's financial situation , thus relieving the pressure on monetary policy and to allow them the opportunity to achieve greater monetary stability to this country, ".anthy 29 / a 43
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