Central Bank: Monetary reserve rose to 49 billion dollars

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Central Bank: Monetary reserve rose to 49 billion dollars

Post  Admin on Thu May 11, 2017 9:01 am

2017/05/11 12:31
The governor of the Central Bank Ali Al-Aliq, on Thursday, the increase in foreign exchange reserves of foreign currency than it was in 2016, stressing the rise to 49 billion dollars.

Al-Allaq said that the Central Bank, despite the decline of oil resources during the past period by up to 70 percent managed to maintain and maintain reserves of foreign currency at the level acceptable within international standards, especially since the basic criterion of the adequacy of the reserve is the coverage of the local currency in the sense of how much of our dinar and the corresponding Of the dollar.

He added that the amount of foreign currency reserves in the bank exceeds the amount of the local currency in Iraqi dinars, which is within the criterion of admissibility of this reserve, which prompted the International Monetary Fund to count Iraq's reserves comfortable and reassured by the Convention on Credit.

"The current reserves range between 47 billion and 49 billion dollars, which is higher than the reserve level for 2016," he said. "We are not concerned about this reserve within the global indices.



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