Financial: dinar improvement after Iraq emerge from Chapter 7

05/07/2013



International banks began trading the Iraqi currency in the first signs for the exit of Iraq from Chapter VII, in conjunction with the announcement of the Iraqi Central Bank increase the size of Iraq's reserves of foreign currency to $ 76 billion in addition to the 30 tons of gold bullion.

The chancellor says the Ministry of Finance Hilal Taan "This reserve will help to raise the value of the Iraqi currency relative to foreign currencies and thus will contribute to reduce the prices of goods and commodities."

And supports the currency reserves at the Central Bank of the Iraqi currency inside and outside Iraq, and that the increase in oil imports may directly contribute to increase this reserve and thus give more support to the Iraqi currency.

He says economic expert Majid picture that "investing the surplus if the reserve must be found that harnesses according to a well thought out economic policy," calling on the House of Representatives to enact laws and economic development that will provide greater support for the Iraqi currency.

For his part, criticized the parliamentary Finance Committee member Ahmed electrodes banking laws and regulations followed in Iraq, uncertain that the House of Representatives is determined to enact laws regulating the banking business in the future.

The central bank said earlier that Iraq is in control of his money and gold deposit in international banks as the bank pointed out that Iraq would emerge from Chapter VII will give him greater freedom to act and attract foreign investment.


http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sl=ar&tl=en&u=http://www.4.hathalyoum.net/iraqnews.php%3Faction%3Dsit%26cd%3D0%26sid%3D246423&usg=ALkJrhjdlgGEBQYqq0GV4FF9jQZv61THIA