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CBI achieves the highest reserves of hard currency in its history
11/05/2013 - 15:35
Author: Ahmed Hussein, Ammar al-Ani
Alsumaria News / Baghdad
A banking source revealed early on Saturday, that the size of the Iraqi Central Bank reserves of foreign currency amounted to $ 74 billion, noting that it is the highest achieved by the bank reserves in the country's history.
The source said in an interview for "Alsumaria News", "The size of the central bank's reserves of foreign currency amounted to $ 74 billion," noting that "it represents the highest rate up to the bank of this currency in the history of Iraq."
The source, who asked not to be named, said, "This reserve will cover the needs of the domestic market of the dollar," noting that "the Bank continues to develop its reserves and employed in a number of investment portfolios and central banks to diversify its resources."
Referred to as the exchange rate of the dollar against the Iraqi dinar has witnessed in recent times significant rise, after that the dollar exchange rate was between 1160 and 1180 dinars to the dollar earlier this year, the exchange rate rose in May to the current 1270 dinars per dollar.
And established the Iraqi Central Bank as a bank independent under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being daily sessions for the sale and purchase of foreign currencies, except for public holidays on which depends by the Bank for these auctions.
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11/05/2013 - 15:35
Author: Ahmed Hussein, Ammar al-Ani
Alsumaria News / Baghdad
A banking source revealed early on Saturday, that the size of the Iraqi Central Bank reserves of foreign currency amounted to $ 74 billion, noting that it is the highest achieved by the bank reserves in the country's history.
The source said in an interview for "Alsumaria News", "The size of the central bank's reserves of foreign currency amounted to $ 74 billion," noting that "it represents the highest rate up to the bank of this currency in the history of Iraq."
The source, who asked not to be named, said, "This reserve will cover the needs of the domestic market of the dollar," noting that "the Bank continues to develop its reserves and employed in a number of investment portfolios and central banks to diversify its resources."
Referred to as the exchange rate of the dollar against the Iraqi dinar has witnessed in recent times significant rise, after that the dollar exchange rate was between 1160 and 1180 dinars to the dollar earlier this year, the exchange rate rose in May to the current 1270 dinars per dollar.
And established the Iraqi Central Bank as a bank independent under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being daily sessions for the sale and purchase of foreign currencies, except for public holidays on which depends by the Bank for these auctions.
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