Central Bank: the dinar became more like a strong and hard currency!

Central Bank: the dinar became more like a strong and hard currency!

Palm – noted the deputy governor of the Central Bank of the appearance of Mohammed that the dinar foreign currency covered by more than (100%) and no fear upon the volatility of currencies of neighboring countries.

Saleh said in a press statement on Saturday: The dinar today has become a strong and like a hard currency thanks to the policy of the central bank in control of the cash raised in the local market, adding that the dinar covered in hard currency at a rate of more than (100%) This is a rare condition, and has a cash reserve large than for hard currency (60) billion dollars retained by the face of difficult circumstances that may occur in the country, giving the power of the dinar against foreign currency.

He noted that the goal of central bank policy at the moment is the stability of the exchange rate of the dinar against the U.S. dollar, but our goal in the long run be equal to it being a process need to be a strong economy and low inflation and a large cash reserve.

He was a member of the Finance Committee and the National Alliance MP Haitham Jubouri may likely price equal to the Iraqi dinar against the U.S. dollar during the next biennium after the implementation of the project to delete three zeros from the Iraqi currency.

Jubouri said in an earlier statement that the approach undertaken by the central bank retention rate of the dinar against the dollar during the current indication that monetary policy in the country able to make the dinar equivalent of the U.S. dollar.