Mamouri reveals decline in central bank reserves to 40 billion dollars
Mamouri reveals decline in central bank reserves to 40 billion dollars
02.11.2016 9:32
{Baghdad} Euphrates News revealed to the economic and investment commission member of the parliamentary proof Mamouri, lower central bank reserves up to $ 40 billion.
Said Mamouri in a statement received by the agency {Euphrates News} a copy of it, on Wednesday, that “monetary policy by the Central Bank of Iraq led to a huge waste of the financial reserves of the Central Bank.”
He said , “There is information suggesting that the reserve current central bank limits $ 40 billion or less after hitting the $ 78 billion in 2013. ”
said Mamouri that” the central bank ‘s policy of selling the currency led to a huge waste in a financial reserve of the bank after the dollar in the local market price reached more than 1,300 dinars to the dollar one, while the official selling price of the bank rate does not exceed 1200 dinars to the dollar. ”
he said a member of the economic and investment commission that” he was assumed that there will be an increase in the reserve ratio of foreign currency at the central bank as shall receive a percentage of profits to sell the currency , but we we see the opposite. ”
he called Mamouri” bank to follow a new policy to sell the currency through the open window for direct sale to the citizens and at the price prevailing in the market and achieve the benefit for the general budget of the state. ”
he noted that it” will be hosting the central bank governor and directors of state banks in the coming days in order to clarification about the causes of decline of dollar reserves and a strong dollar. ”
It is said that the central bank adviser Walid Idi told {the Firat News}, on 18 June, the central bank has more than $ 50 billion in reserve as well as gold, pointing out that this reserve covers imports more than generally accepted internationally established term “.anthy
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