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Tag: CBI Auction

Changes in Exchange Rate is a Global Incident

Changes in Exchange Rate is a Global Incident

A famous economic expert D. Thuwaini is working on the legislative and institutional framework which is identified by the Iraqi Central Bank’s law 56 in the year 2004. The major goal by this law was to maintain the stability in the price and to the financial system. The other targets involved in this scenario present the maintainable development which will provide more job opportunities. The content of the law allowed freedom to the Iraqi Central Bank to implement its monetary…

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CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

On Thursday, the Iraqi Banks Association issued a press statement that the Iraqi Central Bank has approved to bring in all 14 banks which were left out in cold for currency auction. The statement also indicated that the Central Bank of Iraq has implemented most strict terms and conditions. The Executive Director of the Association Dr. Tariq issued a press statement that the Central Bank of Iraq has taken a decision about few days ago and stopped the 14 Iraqi…

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Launching Liquidity to Maintain U.S Dollar Exchange Rate: PM Adviser

Launching Liquidity to Maintain U.S Dollar Exchange Rate: PM Adviser

The Economic Adviser to the Iraqi Prime Minister Muhammad Saleh issued a press statement that Iraqi government needs instability of the U.S dollar exchange rates in the Iraqi domestic market, and to stabilize the Iraqi dinar exchange rate against major currencies. He also added that the high rise of the U.S dollar in the Iraqi local market was due to maximum daily auction sales limit of 75 million dollars, lower oil prices and smuggling problems. The Iraqi Central Bank announced…

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A Group of Banks Started Fixed Selling Price for U.S Dollar: CBI

A Group of Banks Started Fixed Selling Price for U.S Dollar: CBI

On Monday, the Governor of the Iraqi Central Bank issued a statement that new banks would join the existing banks then they will start implementation of selling dollars with fixed price. He further said that 13 Iraqi private banks recently started selling Iraqi dinars at 1193 Iraqi dinars per U.S dollar in order to maintain and control the exchange rate in Iraqi domestic markets. He said that after selling at 1193 Iraqi dinars per U.S dollar, five more banks joined…

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Banking Companies to Cooperate with CBI for Iraqi Dinar Stability: Experts

Banking Companies to Cooperate with CBI for Iraqi Dinar Stability: Experts

A famous economic expert Maha Ehsan praised the banking companies and financial institutions showing mortality regarding the public and not taking advantage and getting profit from the crisis in the situation which the country is facing after selling the hard currency. She issued a statement that a number of banking companies and financial institutions were taking advantages from the situation and taking hold the chances in making profits from the citizens dealing in buying the U.S dollars and transferring these…

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Iraq Dinar Sees Record High Against Dollar

Iraq Dinar Sees Record High Against Dollar

According to some authentic sources, the Iraqi dinar currency impulsively returns upward against the value of U.S dollar. Most of the speculators said that the policies of the Iraqi Central Bank focused to decrease the sale of the U.S dollar in the public auction. As we have seen a sudden rise in the price of U.S dollar against the Iraqi dinar with the highest level in last two years with 1200 Iraqi dinars per U.S dollar, which reflected negatively on…

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Iraqi Banks Taking Important Steps to Reduce Money Laundering

Iraqi Banks Taking Important Steps to Reduce Money Laundering

Iraqi Dinar 123 News:- On Wednesday, a member of the Iraqi Parliamentary Finance Committee Jabbar Abdul Khaliq issued a statement that the banks are involved in smuggling and they are transferring hard currencies outside the Iraqi border. These hard currencies were labeled as merchandise and goods. Abdul Khaliq further said in his press statement that after checking these amounts, we have found a lack of true and clear record regarding the delivery of bonds. These bonds shown as goods in…

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Funds Transferring for Minors Auctions by the Central Bank

Funds Transferring for Minors Auctions by the Central Bank

Iraqi Dinar 123 News: – The department of the Ministry of Justice ready to give decision for transfer of funds in the Iraqi Central Bank auction, in order to get the money for the development of minors. The Director of the department said in an interview that the department is looking to invest money for minor’s development and we are also preparing to enter couriers within the CBI auctions for the month of April, but after the completion of some…

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