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[size=32]Central Bank directed to pay deposits of citizens "in dollars, not dinars"[/size]
Author: Publisher on:June 20, 2015In:
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic expert on behalf of Jamil Anton said the central bank has directed that all banks to pay deposits of citizens in dollars and not in Iraqi dinars.
He added Anton's (IMN) that "the orders issued by the Central Bank that depositors dollar citizens pulling their money in dollars and can not give them irreplaceable in Iraqi dinars, because the currency rate differs within the bank and outside," noting that "the bank when let loose deposits of citizens be at a reduced price 1200 up outside the bank, while up to 1,400 during the past few days. "
Anton explained that "Action taken by the central bank to raise the proportion of 8% of the income tax and fees at the present time come for the benefit of the country so that the compression process resulting from the rise of the dollar exchange rate in recent stop."
And the expert that "the central bank took measures have led to a marked decline in the dollar exchange rate due to the sale of high quantities of the dollar after it was selling 75 milliondollars under Article 50 of the instructions and the budget and reached 203 in last Thursday.
Anton pointed out that "coordination between fiscal and monetary policy in Iraq and take important measures will mitigate the rise in the dollar as well as a reserve nearly 68 billion dollars in the Central Bank, explaining that it" factors leading to thwart the scheme, which sought the black powers to lift the dollar and the creation of cramps in the local markets.
From: Hussam Shehab, edit: Mohammed Saleem
[You must be registered and logged in to see this link.]
Maybe they are doing this to drive the dinar rate down to 1166 where they want it.
Thanks
LIT
Author: Publisher on:June 20, 2015In:
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Economic expert on behalf of Jamil Anton said the central bank has directed that all banks to pay deposits of citizens in dollars and not in Iraqi dinars.
He added Anton's (IMN) that "the orders issued by the Central Bank that depositors dollar citizens pulling their money in dollars and can not give them irreplaceable in Iraqi dinars, because the currency rate differs within the bank and outside," noting that "the bank when let loose deposits of citizens be at a reduced price 1200 up outside the bank, while up to 1,400 during the past few days. "
Anton explained that "Action taken by the central bank to raise the proportion of 8% of the income tax and fees at the present time come for the benefit of the country so that the compression process resulting from the rise of the dollar exchange rate in recent stop."
And the expert that "the central bank took measures have led to a marked decline in the dollar exchange rate due to the sale of high quantities of the dollar after it was selling 75 milliondollars under Article 50 of the instructions and the budget and reached 203 in last Thursday.
Anton pointed out that "coordination between fiscal and monetary policy in Iraq and take important measures will mitigate the rise in the dollar as well as a reserve nearly 68 billion dollars in the Central Bank, explaining that it" factors leading to thwart the scheme, which sought the black powers to lift the dollar and the creation of cramps in the local markets.
From: Hussam Shehab, edit: Mohammed Saleem
[You must be registered and logged in to see this link.]
Maybe they are doing this to drive the dinar rate down to 1166 where they want it.
Thanks
LIT
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