HAT TIP: The Currency News Hound
We love it when Shabibi talks!
This is good news because he has stopped Iran and Syria from syphoning off the US Dollar currency from the Iraqi Economy.
Why is this important?
Well, he has planned on the US Currency to be there for Iraqis to use in their Economy after the RV, before his new lower denom IQD can get widely distributed!
People need to buy groceries, and wo wants to buy a carton of milk with a 50.00 IQD Note after the RV!!! LOL!!!!
~ Mr. IQD
Central Bank of Iraq revealed a slight decrease in the demand for hard currency. The governor of the Bank’s Shabibi / JD / “The demand for hard currency fell slightly after the adoption of new procedures to reduce the fluctuation of the dollar against the Iraqi dinar.”
Shabibi noted “that the bank released the hard currency and freely available to customers within the guidelines.”
The Governor of the Central Bank, “The new procedures through which the bank is trying to prevent money laundering.” The parliamentary finance committee confirmed earlier that the central bank put severe restrictions on the sale of foreign exchange and requires that the buyer of the dollar has a bank account and leave import and lists of commercial tax in addition to settling accounts.
A member of the Committee and MP for the Liberal bloc Majida al-Tamimi’s / JD / “The meeting between the Finance Committee today with the Governor of the Central Bank and some representatives from the bank and gave reasons for the high price of the dollar against the Iraqi dinar.”
She said Tamimi, “The central bank put strict controls on the sale of hard currency in Iraqi banks is that have made the purchase amount of dollars leave the import and bank account and lists of trade and shall be subject to the expense of the tax,” indicating “reason to put restrictions on the buyers dollar to control the price of the currency hard against the Iraqi dinar in the market. “
Tamimi and attributed to the central bank resorted to these restrictions because of the instability of the dollar against the dinar, which had a negative impact on the Bank’s work. The Knesset Finance Committee member and Liberal MP for the block, “The central bank put these restrictions in order to reduce the supply of dollars.”