Finance Committee Member: IQD exchange rate will see significant improvement against USD

Posted: July 21, 2013 in Iraqi Dinar/Politics
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21-07-2013 01:07 PM

Baghdad (newsletter). Anticipating Financial Committee member MP/Kurdistan blocs Coalition/Jimmy, Iraqi dinar exchange rate improved significantly against the US dollar after the action taken by the Central Bank of Iraq and of the provisions of Chapter VII.

He said capable (News Agency): that the Central Bank would take new procedures and controls which supports the stability of the Iraqi dinar exchange rate against the US dollar, which would be a correction of errors that occurred during the past period and the Bank that led to the relatively low price of the dinar.

He added: the departure of Iraq from Chapter VII of the UN contribute significantly to support the dinar exchange rate because it will stimulate trade and economic movement of the country with various countries of the world so it will reflect positively on the dinar exchange rate against foreign currencies.

The Central Bank announced its intention to adopt new procedures and controls for the sale of hard currency to support and stabilize the Iraqi dinar exchange rate against the US dollar.

Saw the Iraqi dinar exchange rate sharply in the past months, born great confusion in the local market.

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