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Economist: Investing in Chinese currency is a smart move to maintain cash reserve prices
January 31 2018 10:44 p
January 31 2018 10:44 p
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[rtl][rtl]Abdul - Hussein Al - Mundhary[/rtl]
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Al-Manzari said in a press statement: "The world's countries are seeking to maintain their reserves of foreign currency, where they diversify to keep them from the risks, so the central banks to diversify currencies and foreign investments in anticipation of any emergency or the exposure of a certain currency to collapse or decline."
"If the local currency, if not secured by foreign currencies, gold and oil, it will collapse."
"The advantage of this currency is higher than the dollar and can be used in international trade and is also a way to be reserves for a lot of other countries."
The Central Bank of Iraq announced that it signed through the Investment Department of the banking arrangements agreement with the People's Bank of China, noting that: "Invest in the Chinese yuan currency after being included in the basket of special drawing rights by the International Monetary Fund."
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Baghdad Post
The economic expert Abdul Hussein al-Mundhary praised the move by the Central Bank to invest the Chinese yuan currency, describing it as the smart step of its contribution to maintaining the prices of its foreign exchange reserves.
Al-Manzari said in a press statement: "The world's countries are seeking to maintain their reserves of foreign currency, where they diversify to keep them from the risks, so the central banks to diversify currencies and foreign investments in anticipation of any emergency or the exposure of a certain currency to collapse or decline."
"If the local currency, if not secured by foreign currencies, gold and oil, it will collapse."
"The advantage of this currency is higher than the dollar and can be used in international trade and is also a way to be reserves for a lot of other countries."
The Central Bank of Iraq announced that it signed through the Investment Department of the banking arrangements agreement with the People's Bank of China, noting that: "Invest in the Chinese yuan currency after being included in the basket of special drawing rights by the International Monetary Fund."
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