Reserve of the Central Bank of Iraq rose to more than 50 billion dollars


The Central Bank disclosed that the cash reserve exceeded 50 billion dollars.
“The central bank’s cash reserves now exceed 50 billion dollars,” the bank’s governor Ali al-Aalak said in a press statement. “This ratio is among the normal rates in terms of local currency and in accordance with the International Monetary Fund’s agreed standards.”
He added that “the Central Bank continues to print the local currency because of the damage and aging in order to maintain the balance between the offer of local currency and reserves, and this central role of the Central Bank,” pointing out at the same time, “that what is put from time to time for falsification of the currency exaggerated In which the bank has the tools capable of detecting any fraud. ”
“The percentage of fraud found and discovered by the bank does not exceed 6 sheets per million paper, and when discovered, are imposed a large fines on banks or entities that deposit.”

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