Economic analyst: Central Bank balance of hard currency will support Iraqi dinar
Economic analyst: Central Bank balance of hard currency will support Iraqi dinar
5/13/13
Baghdad (newsletter). Economic analyst Abdel Salem Al-uqaili warned, nice lending part of the Central Bank’s cash reserve in the country’s investment projects, because it would harm the economy and national currency.
He said Al-uqaili (News Agency): to increase the Central Bank’s balance of foreign currency to more than 74 billion dollars, will boost the value of Iraqi dinar and enhances the strength of the national economy.
He added: you cannot use Central Bank reserves to finance any investment project in the country because it will affect the balance of the Bank and will hurt the economy and reduces the dinar exchange rate versus international currencies.
The source indicated the Central Bank the Central Bank reserve increase to 74 billion dollars.
The Central Bank announced last year that the size of the cash reserve has an estimated 68 billion dollars
ikhnews.com
