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{Economic: Alfart News} The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, reassured Iraq's foreign currency reserves {dollar}.
Saleh told {Euphrates News}: "The official foreign currency reserves portfolio in our country is subject to the principle of diversification in order to avoid the so-called risks of foreign currency fluctuations, which means any decrease in the dollar in exchange for a rise in the rest of the components of the foreign reserve portfolio."
He added, "On the other hand, Iraq's foreign trade is summed up in a high percentage of trading in the dollar area, and therefore the risk of currency fluctuations on import prices is in a mostly neutral range."
Saleh indicated that "the damages of the dollar's decline globally against other foreign currencies are still partial to the national economy."
On June 7, Prime Minister Mustafa Al-Kazemi announced that the reserves of the Central Bank of Iraq had reached $76 billion and would reach $90 billion by the end of this year.
He added, "On the other hand, Iraq's foreign trade is summed up in a high percentage of trading in the dollar area, and therefore the risk of currency fluctuations on import prices is in a mostly neutral range."
Saleh indicated that "the damages of the dollar's decline globally against other foreign currencies are still partial to the national economy."
On June 7, Prime Minister Mustafa Al-Kazemi announced that the reserves of the Central Bank of Iraq had reached $76 billion and would reach $90 billion by the end of this year.
From: Raghad Daham
Editing: Ammar Al-Masoudi
Editing: Ammar Al-Masoudi
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