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Expert: increase the cash reserve will not bear fruit soon
Ali Salman - 11.28.2013 AD - 6:23 |
A member of the Finance Committee of the House of Representatives: The increase in the balance of the Central Bank of Iraq is a pillar of the national currency in the international currency auctions, as fully covered by cash reserves of the country. The Iraqi Central Bank announced late last week about the arrival of the country's reserves of hard currency to the U.S. $ 88 billion, after it was 76 billion dollars early last October. Emphasizes Committee member Abdul Hussein al-Yasiri "the ability of Iraqi citizens on the use of the national currency in financial transactions outside the country, for the confidence of foreign banks that any monetary Iraqi issue is now linked to a blanket of hard currency or gold." But economist Dargham Muhammad Ali points out that "the effects of increasing the cash reserve of the Iraqi will not bear fruit soon, and that the biggest impact is to ensure the stability of the dinar exchange rates, including not adversely affect the expenses of the middle classes and the poor." And agree a number of retailers in the capital Baghdad, in that the survival rate of the dinar steady, even if it is high compared to prices cashed in the eighties of the last century.
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Ali Salman - 11.28.2013 AD - 6:23 |
A member of the Finance Committee of the House of Representatives: The increase in the balance of the Central Bank of Iraq is a pillar of the national currency in the international currency auctions, as fully covered by cash reserves of the country. The Iraqi Central Bank announced late last week about the arrival of the country's reserves of hard currency to the U.S. $ 88 billion, after it was 76 billion dollars early last October. Emphasizes Committee member Abdul Hussein al-Yasiri "the ability of Iraqi citizens on the use of the national currency in financial transactions outside the country, for the confidence of foreign banks that any monetary Iraqi issue is now linked to a blanket of hard currency or gold." But economist Dargham Muhammad Ali points out that "the effects of increasing the cash reserve of the Iraqi will not bear fruit soon, and that the biggest impact is to ensure the stability of the dinar exchange rates, including not adversely affect the expenses of the middle classes and the poor." And agree a number of retailers in the capital Baghdad, in that the survival rate of the dinar steady, even if it is high compared to prices cashed in the eighties of the last century.
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