* CBI confirms the possession of large reserves of hard currency to meet the demand
said the Iraqi Central Bank, Sunday, having large reserves of hard currency to cope with the phenomenon of demand, indicating that there are internal and external factors behind this phenomenon.
The bank said in a statement issued today, and received “Alsumaria News”, a copy of it, it is “possessed of large foreign reserves are the estimated high in the face of any potential caused by the growing phenomenon of demand for foreign currency on the basis of the means of monetary policy available to control the levels of liquidity and cash flows in order to achieve economic stability desired.”
The bank said that “the phenomenon of high demand for foreign currency in the window of the Iraqi Central Bank for the sale and purchase of the dollar in recent weeks, linked to the increasing public expenditure and its impacts on the behavior of individual demand in the market for foreign currency, which is a standalone application locally on goods and services and external benefits. “
He said the bank that “the situation and the complexities of regional in some countries surrounding Iraq and exposed to the problems in its international economic relations have cast the other Bdilalha in the formation of streams of additional non-directly in the demand for foreign currency through the overlapping regional trade and ways of financing different. “
The Central Bank of Iraq, uncovered, on the sixth of January 2012, for high foreign currency reserves to $ 60 billion for the first time in the history of Iraq, after it had been in 2010 had reached $ 58 billion. The Deputy Governor of Central Bank of Iraq the appearance of Mohammed Saleh, on the ninth of January 2012, that the high exchange rate of the dollar in front of the Iraqi dinar in the Iraqi market as well as higher sales of the Iraqi Central Bank foreign currency, due to the financing of trade neighboring countries by the Iraqi traders.
The central bank held the Iraqi daily sessions for the sale and purchase of foreign exchange with the participation of Iraqi banks, which finances the traders from the private sector, with the exception public holidays on which depends the World Bank for these auctions, and sales are either cash, or in the form of money orders sold abroad in return for a certain commission.
The * CBI confirms the possession of large reserves of hard currency to meet the demand by Dinar Daddy's Tidbits, unless otherwise expressly stated, is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License.
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