Rise in hard currency reserves in Iraq, helping to stabilize the Iraqi dinar

Posted by on Nov 25, 2013 | Leave a Comment

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Revealed the CBI, on Sunday, the arrival of foreign currency reserves of more than 88 billion dollars, indicating that it contributes to the stability of the dinar could be a ‘source of pride’ to the Iraqis.

The governor of the Central Bank and the Agency, Abdul-Basit Turki, in a press statement that ‘bank accounts the beginning of October 2013 the past, recorded a reserve exceeds 76 billion dollars of hard currency’, noting that ‘accounts in November current, exceeded the barrier of 88 billion dollars those currencies’.

He added in his statement Turki told AFP that the term ‘high hard currency reserves reflect positively on Iraq through its contribution to the stability of the local currency, which began a remarkable rise recorded in front of their foreign counterparts’, they returned to it ‘is a source of pride for the Iraqis’.

The Central Bank of Iraq, had announced in May last year, about the arrival of foreign currency reserves to 74 billion dollars, saying that it represents a ‘higher rate’ record in the history of Iraq.

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