The central bank reserves of hard currency increased to 115 billion dollars
The central bank reserves of hard currency increased to 115 billion dollars
1-31-2023
Information / Baghdad..
A member of the Board of Directors of the Central Bank, Mazhar Muhammad Salih, revealed that Iraq’s cash reserves had risen to 115 billion dollars.
– Saleh said in a televised interview, followed by Al-Malomooma, that “inflation has risen now due to the rise in the exchange rate of the dollar,” stressing “activating the economic aspect of the strategic framework agreement with Washington and negotiating with the Federal Bank.”
He added, “The Central Bank of Iraq will reorganize foreign trade,” calling on “the US Federal Bank to give Iraq 6 months, because the dollar crisis, if it lasted for a long time, would pose a great danger.”
He pointed out that “external remittances constitute 90% of the dollar demand and 10% of the internal demand for travel and hoarding,” pointing out that “Iraqi banks have begun to adapt to the new situation in external transfer.”
He warned that “Iraq’s reserves of foreign currency amounted to 115 billion dollars, which is the largest in its history.”
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