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Central Bank: The foreign reserves of the Bank is able to cope with the growing phenomenon of demand for foreign currency
On: Sat 28/01/2012 19:54
Baghdad - Mostafa Hashemi
The Central Bank of Iraq that the situation of foreign reserves of the Central Bank of Iraq is one of durability the location and the estimated high in the face of any eventuality caused by the growing phenomenon of demand for foreign currency, according to the means of monetary policy available to control the levels of liquidity and cash flows in order to achieve economic stability desired.
The bank said in a statement received (citizen) yesterday and handled some of the media phenomenon of the subject high demand for foreign currency in the window of the Iraqi Central Bank for the sale and purchase of the dollar, particularly in recent weeks. He added: In order to clarify the factors surrounding the growth of this phenomenon, it should be that Aigb insiders to what internal factors have an important role and the key associated with a greater public spending and its impacts on the behavior of individual demand in the market for foreign currency, which is a standalone application locally on goods and services and the benefits of Foreign Affairs. At the same time, the regional situation and the complexities in some countries surrounding Iraq and exposed him problems in international economic relations has cast a shadow on the other is the formation of additional currents is directly in the demand for foreign currency through the overlapping regional trade and the various ways of funding.
Notwithstanding the above, the phenomena discussed above whatever Achtdadadtha and their effects, the situation of foreign reserves of the Central Bank of Iraq is one of durability the location and the estimated high in the face of any eventuality caused by the growing phenomenon of demand for foreign currency, according to the means of monetary policy available to control the levels of liquidity and cash flows, including achieve the desired economic stability.
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