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Expert: several windows to sell the dollar does not affect the cash reserve
On: Friday 8/6/2012 6:55
Baghdad / range
ruled out economic expert, Abdul Hadi al-Hassani said there is a negative impact on cash reserves due to open several windows to sell the dollar, and praised the central bank to conduct open more than one outlet for the sale of hard currency.
He said Hassani, according to the Agency (news): The Central Bank pursued a policy of keeping the value of the dinar through the control of pumping large quantities of hard currency as you need the local market after opening more than one port to sell the dollar, either through auction or Iraqi banks.
He pointed to: that monetary reserves of hard currency available at the central bank is too large of more (63) billion dollars, likely increased more during the coming period with the increase in export capacity of the Iraqi crude oil.
He continued that the central bank has a future vision and complete knowledge of how to dispose of hard currency and there are fears the impact of selling the U.S. dollar has more on the central bank as reserves began to increase in recent years.
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