Central Bank announces its intention to invest its reserves abroad

by **Rocky** Fri 31 Oct 2014, 4:05 am

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Post n°1

Central Bank announces its intention to invest its reserves abroad

by Rocky Fri 31 Oct 2014, 4:05 am

Central Bank announces its intention to invest its reserves abroad

30/10/2014

Central Bank of Iraq announced, during a meeting with representatives of the economic and investment commission in the House of Representatives Wednesday his intention to invest its reserves of hard currency and gold in the global market.

He said the former deputy director of the Central Bank of the appearance of Mohammed Saleh, Radio Free Iraq, "said the bank currently has a reserve of strong currencies can be invested in European banks and stable countries economically," he said, adding "that the central bank has achieved in 2007 simple returns when invested currency reserves, expected to achieve a higher rate in the next year. "

In addition, said director of planning and financial management in the Ministry of Finance Hilal Taan "that could the central bank to invest its reserves of currency and gold, in the form of bonds in stable markets," explaining that "the profit resulting from the investment could be added to the treasury of the State General".

On the other hand, a member of the Committee on Economy and Investment in the House of Representatives Nora Salem to the eye, "the difficulty of the currency and gold reserves invested by the central bank, under the circumstance of security and the deteriorating economic of the country," adding, saying "It is better for the central bank to invest the currency and gold reserves in the years future. "

The central bank has $ 76 billion of the national currency as a reserve, and more than 30 tons of gold.

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by duck2000 Fri 31 Oct 2014, 5:36 am

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Post n°2

Re: Central Bank announces its intention to invest its reserves abroad

by duck2000 Fri 31 Oct 2014, 5:36 am

expected to achieve a higher rate in the next year.

1164? laugh

by Steven527 Fri 31 Oct 2014, 7:05 am

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Post n°3

Re: Central Bank announces its intention to invest its reserves abroad

by Steven527 Fri 31 Oct 2014, 7:05 am

I think that may be interpreted at as achieving a "higher rate of return" from investing their currency reserves in the global market.

by **wciappetta** Fri 31 Oct 2014, 7:06 am

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Post n°4

Re: Central Bank announces its intention to invest its reserves abroad

by wciappetta Fri 31 Oct 2014, 7:06 am

On the other hand, a member of the Committee on Economy and Investment in the House of Representatives Nora Salem to the eye, "the difficulty of the currency and gold reserves invested by the central bank, under the circumstance of security and the deteriorating economic of the country," adding, saying "It is better for the central bank to invest the currency and gold reserves in the years future. "

Interesting how this woman doesn't understand that the Currency reserves cannot be spent in the Iraqi economy. She being a member of the Investment and economic committee cannot comprehend that the hard currency and gold reserves support the exchange rate. If you spend them you then weaken the currency...

Better yet though, this is the same woman who said the revaluation was pushed off for five years ... Now you see this woman has no clue as to what she's talking about....

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