CBI to Implement Mechanics for the Stability of Exchange Rate

Iraqi Dinar 123 News:– On Sunday, the Iraqi Central Bank has announced that our mission is to authorize legislature and to defend the allegations for the decision of law-makers. The Bank stressed the steadiness in the working methods to maintain the exchange rate stability of Iraqi dinar in the domestic markets. The Governor of Iraqi Central Bank issued a press statement on Sunday about sidelines of a meeting with a large number of financial institutions and well-known experts to discuss about international reserves and the mechanisms for the sale of foreign currency at Iraqi Central Bank. This meeting took place to answer the questions of allegations raised against the procedures of Iraqi Central Bank by a number of non-professional people.

He further added that we have found thorough media that there are a number of defects and confusions. It may lead to break down the banking and financial transactions including work to endorse clear law-making that is dedicated to protect the decision-makers. It would restrict the power of the employees of Iraqi Central Bank for their guesswork that can be destructive for their reputation and for their institution. A number of recommendations were approved to authorize the Iraqi Central Bank in its specific direction and working methods to sustain the exchange rate stability and to avoid speculations and the elimination of the major differences from its official price. We need a fair and transparent sale in the auction at the Iraqi Central Bank.

Share This Post

Related Articles

· Designed by RF