CBI achieves the highest reserves of hard currency in its history

11-05-2013 - 15:35
Alsumaria News / Baghdad

revealed a banking source early on Saturday that the volume of reserves Iraqi Central Bank foreign currency amounted to $ 74 billion, noting that it is the highest reserves achieved by the bank in the country's history.

source said in an interview for "Alsumaria News", " the size of central bank reserves of foreign currency amounted to $ 74 billion, "noting that" it represents the highest rate up to the bank of the currency in the history of Iraq. " said the source, who asked not to be named, said, "This reserve will cover the needs of the local market of the dollar , "pointing out that" the Bank continues to develop its reserves and employ them in investment portfolios with a number of central banks and diversify its resources. " is noteworthy that the exchange rate of the dollar against the Iraqi dinar has witnessed in recent times significant rise, after that the price of the dollar between 1160 and 1180 dinars to the dollar One earlier this year, rose the exchange rate in May of this to 1270 dinars per dollar. , founded the Iraqi Central Bank as a bank independent under its law issued on the sixth of March of the year 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being daily sessions for the sale and purchase of foreign currencies, except for public holidays stops by the Bank for these auctions.