Central Bank announces increase in currency reserves to more than 76 billion dinars

10/06/2013 - 12:38





Alsumaria News / Baghdad
Iraqi Central Bank announced, Sunday, rising hard currency reserves to more than $ 76 billion, confirming that it is the largest in the history of Iraq.

The governor of the central bank and agency Abdul Basit Abdul Samad said in an interview for "Alsumaria News", that "the reserves of the Central Bank of Iraq's hard currency rose to 76 billion and $ 500 million after it was 74 billion dollars by the end of last May," noting that these "reserves I arrived 15 minutes before now, is the largest in the history of Iraq. "

Abdul Samad added that "this increase will increase confidence in the local currency will also increase stability", adding that "the Iraqi currency has become strong due to high bank reserves."

The CBI had announced, last May, the arrival of the size of its hard currency reserves to $ 74 billion, noting that it represents the highest rate up to the bank of this currency in the history of Iraq.

The central bank held the Iraqi daily sessions for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of public holidays in which the Bank stops for these auctions, and sales can be either in cash, or in the form of remittances sold abroad for a certain commission.


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