Governor of the Bank: Our reserves of hard currency are very good and the cover of the Iraqi dinar to 150%

Tuesday 3 March 2015 11:40
Alsumaria News / Baghdad
Central bank governor Ali Allak, Tuesday, was surprised at the statements of some officials about the low reserves of hard currency, stressing that Iraq does not suffer from any decline and has good revenue and there are no concerns, as pointed out that the Iraqi dinar is covered at 150% of the hard currency .

Allak said in an interview for the Sumerian News, "The level of coverage of the Iraqi dinar from the hard currency reserves of 150%", and surprised at the same time "of statements by some officials of the bank is on the low reserves of hard currency."

Allak added that "the Bank reserves of hard currency is very good and does not suffer from this problem and will not suffer, considering that Iraq has an important source of resources to the dollar, a sale of crude oil."

The Finance Minister Hoshyar Zebari, in February 26, 2015, has said the central bank reserves currently down to $ 68 billion, after rising during the previous period to more than that.

The Central Bank of Iraq, in October 2013, for the arrival of the size of its reserves of hard currency to 76 billion and $ 500 million, and that it represents the highest rate of the Bank of the currency in the history of Iraq.