Central Bank: We have not reached Bahtiattiyatna to 100 billion dollars due to the failure to approve the budget
Central Bank: We have not reached Bahtiattiyatna to 100 billion dollars due to the failure to approve the budget
Monday, June 2, 2014 11:33
Alsumaria News / Baghdad,
attributed the Central Bank of Iraq, Monday, lack of access reserves, to 100 billion dollars to the failure to approve the federal budget, while noting that it sold dollars to the government. bank governor said agency Abdel Basset Turki said in an interview for “Alsumaria News”, “Non- approving the budget and behind lack of access reserves of the bank to 100 billion dollars, “adding that” the Bank sold dollars to the government. ” said Turki said that “the main source of reserves is pulling the Ministry of Finance of the Iraqi dinar from the bank,” noting that “the latter sells dinar to the Ministry of Finance dollar” . explained that “the conditions of the general budget and will not be approved and declining public spending behind the non-arrival of the bank’s reserves of hard currency to 100 billion dollars.” and allows the reserve grand of foreign currency for the government of manipulating exchange rates to stabilize the foreign exchange rates to provide a favorable economic environment on the face of the largest and foreign exchange reserves is an important indicator of the ability to repay foreign debt and to defend the currency, and is used to determine credit ratings of nations. announced CBI, in October 2013, on the arrival of the size of its reserves of hard currency to 76 billion and 500 million dollars, noting that “it represents the highest rate up to the bank of the currency in the history of Iraq. 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 on which depends the World Bank for these auctions, and sales are either cash or in the form of remittances Sold abroad for a commission of certain.
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