Post From BondLadys Corner
BondLady & Tlm724 News & Comments 6-16-16 Part 2 of 2
The central bank is required to reduce dollar sales for citizens wishing to travel
16/06/2016 09:51 | Direction Press / Baghdad Committed the Iraqi Central Bank, on Thursday, approved banks and the conversion to reduce dollar sales to citizens who wish to travel.
The bank said in a statement received direction Press a copy of which it was decided for each of the approved banks all companies and remittance of all, in addition to the broker for the sale and purchase of foreign currencies all companies, selling $ 3,000 instead of $ 5,000 for citizens desiring the dollar to cover their expenses abroad .
The bank said that " the sales process take place after the completion of all the required documents under theregulations in force."
Founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, is responsible for maintaining price stability and the implementation of monetary policy, including the exchange rate policies are being daily sessions for buying and selling currencies.
[tlm724]"selling $ 3,000 instead of $ 5,000 for citizens desiring the dollar to cover their expenses abroad "
[tlm724] interesting that they lowered the amount, Shredd any thoughts
[Shredd] not sure what to think about this one....want to be careful not to read into it something that's not there... but it is curious the amount reduced for the dollar for this, we will have to watch to see other limitations
[Shredd] bottom line...
[tlm724] yeah I would think they would have raised it
[Shredd] the supply is in high demand
[Shredd] well, sure but why the reduction
[tlm724] yeah why ??
[Shredd] for me, I think it's all about keeping needed supply, they are carefully watching this and they want to keep it in country
[Shredd] I could speculate that this restriction applies to upcoming currency reform
[tlm724] please do !
[Shredd] and keeping necessary USD for transition while dinar grows in value, the "usable" notes will be a mix of USD and IQD
[Shredd] and while the denoms of IQD are released against a growing rate to make them usable, the dinar will fill in the gaps for smaller transactions
[Shredd] big picture, I think this could certainly be a part of the greater plan which I don't think is too terribly far off in the future......moving away from a dual currency system
[Shredd] that's my two cents
[tlm724] I like your 2 cents
[cat] me too
[shunshine] me too
[tlm724] I tend to agree Shredd and it is not a stretch either, we witness the actual reform everyday, huge steps being taken so it makes sense that this move it part of it Wink tyvm
[tlm724] hey Shredd didn't the travel amount used to be 10 K ?
[tlm724] I thought so ! very interesting, getting closer to dedollarization
[Shredd] certainly controlling supply more in this regard
[tlm724] Very Happy
tlm724: diff source
Central necessary to reduce dollar sales for citizens wishing to travel
16/06/2016 08:58 Committed the Iraqi Central Bank, on Thursday, approved banks and the conversion to reduce dollar sales to citizens who wish to travel.
The bank said in a statement, "It was decided for each of the approved banks all companies and remittance of all, in addition to the broker for the sale and purchase of foreign currencies all companies, the sale amount $ 3000 instead of $ 5000 for citizens desiring the dollar to cover their expenses abroad. "
He added that the bank" sales process take place after the completion of all the required documents under the regulations in force. "
Iraq to cut the exact amount of the purchase and the convertibility of the dollar abroad
Thursday 16-06-2016 | 9:27:14 Twilight News / Iraqi Central Bank decided to reduce the amount due for citizens outside the country to buy the US dollar or the financial transfer, as part of measures initiated by the bank to reduce the suspicions of corruption chain.
According to a statement of the bank responded to the Twilight News, he decided that the share of citizens who wish to obtain the dollar to cover their expenses abroad of banks and banking, financial and conversion of all is the (3000) dollars, three thousand dollars, instead of (5000) dollars, five thousand dollars.
He said the sale process take place after the completion of all the required documents under the regulations in force.