Details Created On Monday, June 4, 2012 12:33 Date of Publication Group: economy
A member of the Finance Committee MP Abdel Hussein al-Yasiri, in a way to open letters of credit instead of foreign exchange of currencies used by the central bank to maintain the value of the dinar against the dollar.
And Zkralaasri: The Central Bank has started to make good steps towards the restoration of the value of Iraqi dinar and to maintain its price in front of hard currency through the powers granted to sell hard currency for a number of commercial banks, in addition to that action will be taken to open letters of credit instead of foreign exchange of currencies.
The MP Eliassrs: that the way the opening credits would force traders to open the adoption of their own by commercial banks, whether governmental or private, puts the insurance, so it is when want import goods from abroad opens depending instead of money transfer to ensure the receipt of goods into the country, and specifications To avoid high out of funds without the import of the country.
The MP pointed out Yasiri: that the purpose of taking such action by the Central Bank in order to preserve the value of Iraqi dinar, because when you reduce the central from the sale of hard currency will lead to increase in value as the lower exchange rate of the dinar.
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