The Central Bank issues the brochure of the Foreign Currency Sales Window for 2019

26
Feb
26 Feb 2020 In Investments & Opportunity, IRAQ Comments Off on The Central Bank issues the brochure of the Foreign Currency Sales Window for 2019

The Central Bank issues the brochure of the Foreign Currency Sales Window for 2019

24th February, 2020

The Central Bank of Iraq issued a brochure entitled: “The window for selling foreign
currency in the Central Bank of Iraq”, which clarifies the administrative framework
for financing imports and the mechanism of selling foreign currency to banks in covering
their customers’ requests, and the process of collecting and sterilizing the local currency
considering that this bank represents the monetary authority in Iraq.

The Central Bank of Iraq

information Office

2/24/2020

LINK

The central bank clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies

25th February, 2020
The Iraqi Central Bank issued, on Tuesday, a brochure entitled “The Window for Selling Foreign Currency in the Central Bank of Iraq.”

“The brochure explains the administrative framework for financing imports and the mechanism of selling foreign currency to banks in covering the requests of their customers,” the bank said in a statement.

He added, “It also clarifies the process of collecting and sterilizing the local currency considering that this bank represents the monetary authority in Iraq.”

The act of sterilizing the local currency is a practice by major global players. It appears the CBI is preparing or is now prepared to defend their currency in world markets.. Something that the CBI has now been told to the world that they are now obliged to play by the IMF Rules.. imo.. Very good indeed imo ~ MM

https://www.investopedia.com/terms/s/sterilizedintervention.asp

“The U.S. Treasury Department is responsible for determining the nation’s exchange rate, and for that purpose, it maintains the Exchange Stabilization Fund, which is a portfolio of foreign currency and dollar-denominated assets. The Federal Reserve also has a foreign currency portfolio for the same purpose. Exchange rate intervention is carried out jointly by the Trea

Comments are closed.