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 CBI reveals its reserve of the dollar and gold

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Join date : 2015-02-19

PostSubject: CBI reveals its reserve of the dollar and gold   Fri Aug 10, 2018 3:40 pm

CBI reveals its reserve of the dollar and gold

2018/8/10 12:16

{Baghdad: Al-Furat News} The Central Bank of Iraq, Iraq's reserve of the dollar and gold.

"The Iraqi dinar today is supported by 58 billion dollars of hard currency reserves, and more than 89 tons of gold, all elements that strengthen its strength and maintain the stability of its exchange rate," said the director of the bank's press office, Acer Jabbar.

He stressed that "the central bank - responsible for the organization of monetary and monetary policy in the country - is in the process of maintaining the exchange rate, it seeks to be Iraqi dinar stable and stable despite all the political and economic events in Iraq."

Jabbar pointed out that "the bank has taken a number of important measures to maintain the exchange rate in the domestic market, the most prominent of which is the development of the work of the sale window of hard currency in the country."

"The window selling the currency is the window sold by the Central Bank of Iraq dollar for government and private banks, which in turn sell it to companies wishing to import hard currency or citizens wishing to travel abroad for the purposes of treatment or study and others.

He explained that "the most important procedures to develop the work of the window is to follow the method of dealing directly with the documents provided by customers or traders who want to buy the dollar and check your strength and bills of goods to be imported to ensure the arrival of the dollar to the trader directly and eliminates the intermediary rings that were manipulating the exchange rate."

He pointed out that "the trader was forced in the past to follow several steps to reach the dollar to import his goods, which opened the time for many to carry out bidding operations that lead to an increase in the exchange rate."

"The Bank has also succeeded in reducing money laundering, which is a reason for the fluctuation of the exchange rate as well as other security and economic risks," he said. "The success of Iraq in the fight against money laundering prompted the International Financial Task Force (FETF) Money laundering and terrorist financing to remove Iraq from the list of countries under control. "

He pointed out that Iraq "has completed all the recommendations of the International Working Group and addressed the requirements of the strategy of combating money laundering and financing of terrorism in addition to enacting a law against money laundering and establishing the Anti-Money Laundering and Terrorism Financing Council".

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