CBI reserves exceed $ 50 billion


The head of operations at the Central Bank, Sunday, said that the reserve currency in the Central Bank exceeded (50) billion dollars.
He added that the time has come for banks to diversify their portfolios by settling salaries through ways to attract traders and importers who are more familiar with the market and should work in this direction in the future.
He pointed out that “the improvement of the value of the Iraqi dinar against the dollar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the identification of significant measures on the process of presentation of currency and address the violations of demand.
Dagher added that the central bank was able to achieve high stability of the upper and lower limits to the dollar against the dinar, and then moved to a new situation this year were new procedures adopted classification and scrutiny as well as offer.
He added that “the official price target of the dollar is 1200 dinars per one dollar and that the gap in the exchange market in the presence of a fixed price adopted by the central bank is available in many economies, an acceptable change.”

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