Deputy Minister calls the Central Bank to address the fluctuating dinar exchange rate against the do

by **Rocky** Mon 13 May 2013, 6:27 am

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Deputy Minister calls the Central Bank to address the fluctuating dinar exchange rate against the do

by Rocky Mon 13 May 2013, 6:27 am

Deputy Minister calls the Central Bank to address the fluctuating dinar exchange rate against the dollar

13-05-2013

First Vice-President of the student Parliament Qusay Al-Suhail, Monday, Central Bank of Iraq to address the fluctuating dinar exchange rate against the US dollar and the detection of the causes behind it.

According to a statement issued by the Office of Suhail acquired "Twilight", the latter "a meeting of the Finance Committee at its headquarters in the presence of Central Bank Governor Abdel Basset Turki, the Chairman of the Committee and its members."

By Suhail stressed "the need to identify actions and things to taken by the Central Bank to address the fluctuating dinar exchange rate against the dollar," stressing "the importance of knowing the real reasons which led to this oscillation that negatively affects a person's life."

The statement added that "the Central Bank Governor by attending a policy review of the World Bank during the past period, particularly with regard to the auction, the Central Bank and the procedures established by the Bank's management to eliminate volatility in exchange rates".

"All the members of the Committee expressed their suggestions and recommendations regarding developments in the auction sale and the method and manner of the dollar", stressing the "need to adopt ways to prevent exploitation of some of the Iraqi people's money traders to Central Bank auction."

The Presidium of the House of representatives, announced on Sunday its full support for the actions the Central Bank intends to take to ensure the stability of the Iraqi currency has been falling in value against the dollar to a record low in two years.

And the value of the Iraqi dinar fell gradually during the past few weeks, bringing the price of the dollar to around 1129 DT was stable at 1120, the highest rate of exchange-rate mechanism for the last two years.

The Finance Committee in the House of representatives, unveiled early last month, the Central Bank of Iraq to take urgent action to maintain the stability of the exchange rate of the Iraqi dinar against the dollar by increasing sales outlets for hard currency, the currency continued to decline.

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