********* Keywords: Central Bank reserves reached $ 65 billion

June 12, 2015
BAGHDAD / Center Brief for the Iraqi Media Network (IMN) Governor of the Central Bank said the agency on the Keywords that the Central Bank reserves reached more than $ 65 billion, pointing out that the value of the reserve currency is measured by exporting.

He explained Keywords for (IMN) that "the value of the reserve does not represent something, but measured by exporting currency locally if the ratio between foreign currency and exporting more than 100% and this means that the Reserve develop a sound," noting that "Iraq by more than one and a half percent reserve is this good rates. "

And he pointed out that "up Aigas in absolute terms, but rather as a number may be a hundred and currency shall be exporting 200 reserve is good, it may be 50 trillion and 30 trillion exporting currency shall be comfortable reserve".

He added that the "ratio, which take into consideration the issue of the reserve which is the international standard used, and Iraq is still a high rate of" pointing out that "the central bank reserves is uneven, according to oil imports."

The parliamentary finance committee and suggested the decline in demand for the dollar in the Iraqi market with the release of the new category of the local currency, noting that the central bank reduced sales led to increased demand and lifted the dollar exchange rate against the dinar.

From: Wissam al-Haj, the Open: Ali Al-Shammari

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