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2012-04-14



Baghdad/JD/... The Iraqi Central Bank denied reports of declining foreign currency reserves recently, stressing that these precautions have escalated.

The Iraqi Central Bank said in a statement Friday evening, obtained (JD)": some press circles are many analyses deliberated failures, which indicated that the Iraqi Central Bank reserves of foreign currency has fallen in recent months with a few billion dollars.

The Central Bank said that these figures or other regular sales are the result of dollar to its customers from the Iraqis, through day-to-day operations of foreign currency auction in recent months or years, note that the Bank's foreign currency reserves have not declined but increased during the past period.

Referring to the direct intervention of neighbouring States in this auction are baseless and unfounded, although the current regional influences left spillover effects on foreign exchange movements in the local exchange market.

The Finance Committee in the Chamber of Deputies had warned of the seriousness of the continuing decline in the price of the US dollar, dinar, who arrived during the past few days to 1,300 dinars to the dollar for the first time in nearly four years.

Conversely the Bank Advisor Mohammad Saleh appearance of serious depreciation of the Iraqi dinar against the dollar, and it gradually disappear price bubbles.

Recalls: that the Council of Ministers may form a Committee to study the Iraqi dinar price volatility in recent times, to provide appropriate solutions and the prevention of damage to the national economy.
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