Sunday 27 May 2012
Deputy Central Bank Governor Mohammad Saleh appearance
The Iraqi Central Bank, announced Sunday, rising foreign exchange reserves to $ 63 billion, saying it was the largest in the history of Iraq, said those reserves a few in a country still lacks economic diversification.
He said the Bank’s Deputy Governor Mohammad Saleh appearance in an
Saleh said “these reserves despite being big and the largest in the history of Iraq through access to 63 billion dollars, but it remains below the level of ambition”, noting that “these reserves are low in a country like Iraq owing to weak economic diversity and its dependence on a single commodity in balance.”
Saleh said that “these are a few before our reserves if oil ports closed in Iraqi exports for any reason for a week or more”, stressing the need to “prepare dramatically so.”
And invited the Deputy Governor of the Central Bank of Iraq to “follow the example of the State of China tend to Krb dollars which is equivalent to one third of the official reserve currency of the world, as well as the enormous diversity of its economy.”
The Iraqi Central Bank, announced on 6 January, the foreign currency reserves rise to 60 billion dollars, for the first time in the history of Iraq, after the beginning of September in the year 2011 higher precautions amounted to 58 billion dollars after 50 billion dollars by the end of 2010.
The Iraqi Central Bank holds daily meetings for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of holidays which the Bank stops on these auctions and sales either cash or money orders sold to abroad for a certain fee.