Iraqi Dinar Discussion Board

[ema-266]

Central Bank announces increase in hard currency reserves to 42 billion dollars

BAGHDAD - Economy

Baghdad, January 26 (AKnews) - The Director General of Statistics and Advisor to the Governor Central Bank of Iraq said Tuesday that "rising up to the Iraqi Central Bank hard currency to U.S. $ 42 billion last year.

The appearance of Mohammed Saleh told Kurdish news agency (AKnews) that "this is the rise in Iraq's reserves of hard currency calculated without taking into account the reserve original Iraq's old or imports of Iraqi oil" ..

He pointed out that "Height proof of the success of fiscal policy followed by the Central Bank of Iraq."

Barham Salih, "The interest rate to the Central Bank of Iraq is 7% from 9% before June 2009"

He pointed out that "interest rates in the banks of the Central Bank of Iraq is still higher than the inflation indicators in Iraq."

And Saleh, said that "interest rates in the Central Bank determined the adoption of inflation expressed by the index of consumer prices excluded from transportation and fuel prices based on supply and demand and not affected by shocks and economic fluctuations."

He pointed to me that "The reduction of interest in Iraqi banks at the present time came to equal the rate of inflation"
Stressing that "this matter does not affect economic development in Iraq."

The Central Bank reserves have reached 30 billion dollars in 2008, when the price of oil to $ 147 a barrel.