Central Bank reserves reach 100 billion dollars

Central Bank reserves reach 100 billion dollars

Posted by Iraq News Journal on Apr 13, 2014 | Leave a Comment

Revealed the CBI, on Sunday, announced the arrival of its reserves of hard currency to the equivalent of 90 trillion dinars end of the month of February, while expected to continue to increase the proportion “not great” not being able to reach the barrier percent billion, attributed to the expansion in Feeding foreign trade to the private sector.

The administration has said the central bank in the gallery its written reply to questions from the (long-Presse), “The total reserves of the Central Bank of Iraq reached until the end of February 2014 the past, to ninety trillion dinars,” noting that it “reserves increased by good compared to previous months as Iraq makes in a stable position financially. ”

And affirmed the bank’s management, that “the increase in reserve growth would continue, but rates are not great,” excluded “arrived from hard currency reserves hundred billion dollars due to the expansion of foreign trade in feed for the private sector,”

The Department of the Central Bank, that there is “a great demand for the dollar through currency auction, which takes the other hand, the Iraqi dinar is what makes expansion there commercially for some applicants the dollar.”

It is noteworthy that the Iraqi Central Bank, announced in (the 23 of December 2013 the past), the arrival of the foreign currency reserves of more than 88 billion dollars, returned it contributes to the stability of the dinar could be a “source of pride” for the Iraqis.

The Central Bank of Iraq, had announced in May 2013, on the arrival of foreign currency reserves to 74 billion dollars, saying that it represents “the highest rate of” record in the history of Iraq.

The central bank of Iraq, in the (third from April 2014 current), the arrival of the gold reserves of 90 tons to support the value of the Iraqi dinar, noting that it contributes to the enhancement of the national economy.

As I mentioned special bulletins Iraq’s central bank, issued early March 2014, he has sold more than 228 billion dollars since the start of the meetings of the currency auction in 2003 and until that date, and showed that the commissions earned by the bank of those sales ranged between three to 24 dinars per dollar.