Parliamentary Finance confirms the lack of concern on the value of the dinar against the dollar Amount of dollars

09/26/2015 15:40

Tomorrow Press / Baghdad: Parliamentary Finance Committee confirmed on Saturday, no worries on the value of the dinar against the dollar, indicating that the cash reserve to cover the dinar is liable to bring the necessary stability of the exchange rate for a long time.

The Commission decision Ahmed Hama Rasheed for "tomorrow Bs", that "the measures taken by the Central Bank of Iraq and the private banks which capable of achieving exchange rate stability and returned to a normal level after he had witnessed a rise during the first quarter of this year because of Article 50 of the budget, which law The central bank has committed to sell a specific amount of the dollar to the markets, which can accommodate twice the amount specified in it. "

He added that "the central bank recently said that the reserves are sufficient to cover more than six months of imports, which is higher than what is normally required to maintain the exchange rate, so there are no worries on the value of the dinar against the dollar," stressing that "the measures taken by the Central Bank, which contributed significantly in reducing the size of inflation during the last period. "

He stressed Rashid said "Strengthening the reserve currency basket extra amounts of gold would also be granted the dinar extra power enables it to withstand the fluctuations of world oil prices," noting that "the more diversity cash reserve I told influences directly the drop in oil prices on the value of the currency."

The Article 50 of the Budget Law for the current year has committed to identify sales of the dollar in the daily currency auction sale does not exceed the ceiling of 75 million dollars a day at a time when the market absorbed about $ 200 million, the Federal Court has canceled this paragraph in future budgets Iraq.

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