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The Sudanese advisor indicates an increase in the Central Bank’s foreign currency reserves
November 13 14:32
Information / Baghdad..
The financial policy advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, the increase in the foreign reserve accumulation of the Central Bank of Iraq.
Saleh said in an interview with the Maalouma Agency,
“There is a direct correlation between the current account surplus of the Iraqi balance of payments and the development of the foreign reserves of the Central Bank of Iraq.” He stated,
“As long as there is a surplus in the current account of the balance of payments,
it has been achieved during the current year, which is positively indicated by the accumulation of foreign reserves of the Central Bank of Iraq during the year 2021, with a change in the direction of an increase of more than 20% compared to the levels of the year 2020.” He pointed out that "the
foreign currency coverage of the Iraqi dinar has increased and is approaching matching its coverage of the base currency." He added, "The
monetary policy of the Central Bank of Iraq enjoys the availability of a strong foreign reserve tool that can
preserve the purchasing power of the Iraqi dinar and
confront inflationary expectations
with a high and comfortable ability through the power of intervention in imposing stability in the exchange market through open market operations practiced by the monetary authority to achieve the operational objectives of the monetary policy." With all ease and flexibility.” Ended 25/s
https://almaalomah.me/news/82473/economy/مستشار-السوداني-يؤشر-ارتفاعا-باحتياطي-البنك-المركزي-من-العمل
November 13 14:32
Information / Baghdad..
The financial policy advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Wednesday, the increase in the foreign reserve accumulation of the Central Bank of Iraq.
Saleh said in an interview with the Maalouma Agency,
“There is a direct correlation between the current account surplus of the Iraqi balance of payments and the development of the foreign reserves of the Central Bank of Iraq.” He stated,
“As long as there is a surplus in the current account of the balance of payments,
it has been achieved during the current year, which is positively indicated by the accumulation of foreign reserves of the Central Bank of Iraq during the year 2021, with a change in the direction of an increase of more than 20% compared to the levels of the year 2020.” He pointed out that "the
foreign currency coverage of the Iraqi dinar has increased and is approaching matching its coverage of the base currency." He added, "The
monetary policy of the Central Bank of Iraq enjoys the availability of a strong foreign reserve tool that can
preserve the purchasing power of the Iraqi dinar and
confront inflationary expectations
with a high and comfortable ability through the power of intervention in imposing stability in the exchange market through open market operations practiced by the monetary authority to achieve the operational objectives of the monetary policy." With all ease and flexibility.” Ended 25/s
https://almaalomah.me/news/82473/economy/مستشار-السوداني-يؤشر-ارتفاعا-باحتياطي-البنك-المركزي-من-العمل
