Date: 02/01/2013 11:37:34 Wednesday
Baghdad (news) .. Financial expert warned Mohsen Ali, of increasing dollar amounts sold at auction the central bank because it will affect the size of the monetary reserves of hard currency located at the Central Bank.
Ali said (of the Agency news): The current monetary policy pursued by the central bank is not built on the basis of cash or bank valid evidence it increases the offer to sell the U.S. dollar in the auction did not think the existing reservoir of hard currency has.
He explained: that the source of hard currency "dollar" comes through the sale of oil and there is no other sources can be relied on to attract hard currency for the country, when increased amounts of dollar sold at auction the central bank will reduce the monetary reserves of foreign currency, thus affecting the value of the Iraqi dinar against other currencies international.
This was the Iraqi Central Bank announced an increase sales of the dollar to reach more than $ 299 million in its daily auction, exchange rate was 1166 dinars for one dollar, and with the participation of up to 24 local banks. / End / 8. N. P /
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