CBI: Foreign currency reserves reach $88 billion

CBI: Foreign currency reserves reach $88 billion

Published: 2013/11/30 15:10





On last Sunday, Central Bank of Iraq, CBI has revealed that the arrival of foreign currency reserves of more than $88 billion, stressing that it contributes to the stability of the dinar could be a “source of pride” for the Iraqis.

Abdul-Basit Turki, the governor of the Central Bank and the Agency, stated in an interview session that “The bank accounts the beginning of October 2013, recorded a reserve exceeds 76 billion dollars of hard currency."
"The accounts of November, exceeded the barrier of 88 billion dollars of those currencies," he remarked.
"The rise of the foreign currency reserves will be reflected positively on Iraq through its contribution to the stability of the local currency that witnessed a remarkable rise recorded before their foreign counterparts."
In May, 2012, the central bank of Iraq has announced that the foreign currency reserves reach 74 billion dollars, assuring that t represents “the highest rate recorded in the history of Iraq. /End/

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Thank you Timmy The Iraqi people have not much buying power at 1166 not much for them to be proud of The people are still poor