The Central Bank of Iraq (CBI) has announced a package of measures to help stabilise the dinar/dollar exchange rate.
A translation of the statement from the CBI list the following:
- Allowing the banks participating in the foreign currency buying and selling window to buy any amounts in foreign currency and deposit them with this bank in accounts used for external transfer purposes, and to pay interest / returns on those balances according to what this bank decides.
- Facilitating the financing of private sector trade through Iraqi banks and meeting the demand for foreign transfers by strengthening the balances of banks with their correspondents in other currencies in addition to the US dollar (Chinese yuan, the euro, the Emirati dirham, the Jordanian dinar, and others).
- Opening outlets for selling foreign currency in government banks to the public for travel purposes (treatment, Hajj Umrah, study, etc.)
- Reducing the selling price of the dollar to the beneficiary (the card holder) that he uses while traveling or paying his purchases via the Internet, to be at a price of (1465) dinars to the dollar instead of (1470) dinars to the dollar. The dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar.
(Source: Central Bank of Iraq)
The post CBI takes action to Stabilise Iraqi Dinar Exchange Rate first appeared on Iraq Business News.
