CBI denies stoppage in daily sales auction and blamed rumor

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Iraqi Central Bank

The Iraqi Central Bank unquestionably denied the rumors regarding flooding news that there is a shortage in the fluidity of foreign currencies in the domestic markets or CBI has postponed its operations for selling foreign currencies in their auction at Iraqi Central Bank.

CBI has issued a press statement about the rumors that there are a large number of rumors circulating regarding the shortage of financial resources, lack of assets or stoppage in the foreign currency selling at the Iraqi Central Bank in their daily sales auction. The CBI also ensured that they are continuously selling foreign currency in their operation in order to meet the need of Iraqi domestic currency markets. Some rumors also predicted that it is Iraqi dinar Revaluation time period.

It is important that Iraqi Central Bank blamed to a number of speculators and rumors because they are spreading the statements of some politicians and officials. This situation caused manipulation in the exchange rates in the domestic currency markets. The Iraqi Central Bank also alarmed Iraqi citizens and media to be careful to those doubtful rumors because their aim is to create confusion and to imbalance Iraqi currency markets and they are considered enemies of our country. The sales at the Iraqi Central Bank also showed an increase in the foreign currency sales auction on Wednesday. The CBI sold more than 213 million U.S dollars, while the CBI sold 171 million U.S dollars on Tuesday. This increase took place due to CBI needs to manage the exchange rate of U.S dollar against the Iraqi dinar.

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