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Central Bank: a decrease in the percentage of cash and gold for the month of August
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Baghdad / NINA / The Central Bank's financial position report issued for the month of August of the current year showed a decrease in the percentage of available cash and gold assets by 15% compared to July.
The Future Iraq Foundation quoted the bank as confirming that: the existing for the month of August was 18.9 trillion dinars, after it was worth 22.28 trillion dinars during the month of July of the current year. The ratio of cash and gold assets represents 17% of the total assets of the Central Bank.
The report also showed a decrease in the percentage of securities held by 3.29% to reach 38 trillion dinars, after it was 39.4 trillion dinars during the month of July of this year, so the ratio of securities to the total assets of the Central Bank is 34%
The report showed an increase in the Ministry of Finance's commitments to the Central Bank by 20% compared to the previous month, to reach 30 trillion dinars, after it was around 25 trillion dinars in the previous month.
As for the level of liabilities, the percentage of issued cash increased to reach 63 trillion dinars, an increase of more than 2% compared to the month of July, as the value of the exported value was 61.5 trillion dinars, representing 57% of the central bank's liabilities.
The value of bank deposits with the Central Bank decreased to reach 21.8 trillion, a decrease of 3.8% compared to the previous month, as the value of deposits at the bank was 22.6 trillion dinars and the percentage of bank deposits representing the total liabilities by about 20%
He continued that the high percentage of the Ministry of Finance's obligations towards the Central Bank and the decrease in the proportion of investments and real reserves indicates a decline in the value of the reserves because the Ministry of Finance is currently unable to commit to paying those sums to the Central Bank and thus leads to a reduction in the strength of the Iraqi currency and that the continued decline in reserves in exchange for higher obligations The Ministry of Finance will lead to weakening the stability of the Iraqi currency and has dangerous repercussions on the strength and stability of the Iraqi economy and may lead to an increase in inflation. / End 3
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The Future Iraq Foundation quoted the bank as confirming that: the existing for the month of August was 18.9 trillion dinars, after it was worth 22.28 trillion dinars during the month of July of the current year. The ratio of cash and gold assets represents 17% of the total assets of the Central Bank.
The report also showed a decrease in the percentage of securities held by 3.29% to reach 38 trillion dinars, after it was 39.4 trillion dinars during the month of July of this year, so the ratio of securities to the total assets of the Central Bank is 34%
The report showed an increase in the Ministry of Finance's commitments to the Central Bank by 20% compared to the previous month, to reach 30 trillion dinars, after it was around 25 trillion dinars in the previous month.
As for the level of liabilities, the percentage of issued cash increased to reach 63 trillion dinars, an increase of more than 2% compared to the month of July, as the value of the exported value was 61.5 trillion dinars, representing 57% of the central bank's liabilities.
The value of bank deposits with the Central Bank decreased to reach 21.8 trillion, a decrease of 3.8% compared to the previous month, as the value of deposits at the bank was 22.6 trillion dinars and the percentage of bank deposits representing the total liabilities by about 20%
He continued that the high percentage of the Ministry of Finance's obligations towards the Central Bank and the decrease in the proportion of investments and real reserves indicates a decline in the value of the reserves because the Ministry of Finance is currently unable to commit to paying those sums to the Central Bank and thus leads to a reduction in the strength of the Iraqi currency and that the continued decline in reserves in exchange for higher obligations The Ministry of Finance will lead to weakening the stability of the Iraqi currency and has dangerous repercussions on the strength and stability of the Iraqi economy and may lead to an increase in inflation. / End 3
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