CBI: The cash reserve has reached more than 87 billion dollars

  • 29-09-2022, 18:40
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    The Central Bank of Iraq announced the achievement of the largest reserve in its history, with a number exceeding 87 billion dollars, while stressing that the value of the Iraqi currency is greater than its real value by (130) percent .

    The Central Bank adviser, Ihsan Shamran Al-Yasiri, told the Iraqi News Agency (INA), that "the reserves of the Central Bank exceeded 87 billion dollars, which is the largest number that the reserves of the Central Bank of Iraq reach.".

    He pointed out that "the Iraqi currency is very strong because the reserves constitute 130 percent of the source of circulation of funds in banks and others, in addition to its function to meet the requirements of traders to import goods.".

    He explained, "The reserve is not an absolute number for the economy's recovery, as it previously reached 40 billion, and the economy was recovering, as the lesson is in the financial guidance and financial discipline that the state contributes to making.".

    He pointed out that "every uncontrolled government spending indirectly affects and decreases the reserve," expressing his hope that "the reserve will exceed $100 billion."