Wednesday, January 7, 2009

The Central Bank of Iraq is raising the value of iraqi dinar gradually

January 07, 2009

The Consultant at the Iraqi central bank, Mudhir Mohamed Saleh, said that the bank's policy in its auction for the sale of foreign currencies, focus on stabilizing the exchange rate and strengthen the Iraqi dinar against the dollar, to face inflationary pressures which in our view that the exchange rate the most important. It is the policy of the central bank to raise the value of dinar gradually.

The average daily demand increased last week at 163.8 million dollars, which is higher than the highest rates achieved in the last period, as the third quarter of this year, the rate of 150 million dollars at each session.

The Central Bank of Iraq reduced the interest rate to 14 percent rather than 15 percent. Source(Azaman)

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