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Currency auction halts a week as banks fear a change in the dollar
economy
2021-04-05 05:26
Shafq News/ A government source revealed on Monday that the currency auction was suspended for a week as banks feared the dollar would change.
"Banks stopped participating in the central bank's daily currency auction last week because they feared that the exchange rate would change the dollar in the budget approved last week," the source told Shafq News.
"Banks are expected to start participating in the auction and submitting their requests to the bank to buy the dollar starting this week," he said, adding that "these orders will be implemented over the weekend or the beginning of next week."
On Wednesday (March 31, 2021), the Iraqi parliament voted on the federal budget law for fiscal year 2021 with a deficit of more than 28 trillion dinars, and a months-long pull and attraction.
Budget revenues amounted to more than 101 trillion Iraqi dinars, while expenditures were estimated at 129 trillion dinars.
Some political blocs had called for a devaluation of the dollar in the budget, which made the dollar influenced in local markets between the ups and downs.
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economy
2021-04-05 05:26
Shafq News/ A government source revealed on Monday that the currency auction was suspended for a week as banks feared the dollar would change.
"Banks stopped participating in the central bank's daily currency auction last week because they feared that the exchange rate would change the dollar in the budget approved last week," the source told Shafq News.
"Banks are expected to start participating in the auction and submitting their requests to the bank to buy the dollar starting this week," he said, adding that "these orders will be implemented over the weekend or the beginning of next week."
On Wednesday (March 31, 2021), the Iraqi parliament voted on the federal budget law for fiscal year 2021 with a deficit of more than 28 trillion dinars, and a months-long pull and attraction.
Budget revenues amounted to more than 101 trillion Iraqi dinars, while expenditures were estimated at 129 trillion dinars.
Some political blocs had called for a devaluation of the dollar in the budget, which made the dollar influenced in local markets between the ups and downs.
[You must be registered and logged in to see this link.]
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