Economic specialist for / NINA /: The reduction in the currency auction and the increase in oil prices are behind the rise in the Central Bank's reserves
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Economic specialist for / NINA /: The reduction in the currency auction and the increase in oil prices are behind the rise in the Central Bank's reserves
by RamblerNash Thu Mar 04, 2021 10:33 pm
Wednesday 03, March 2021 10:25
Baghdad / NINA / Economic specialist, Ali Jabbar Al-Fariji, confirmed that the increase in the central bank’s cash reserve to $ 55 billion came for a significant drop to more than 54% in the (suspicious) currency selling window.
Al-Fraiji said in a statement to the Iraqi National News Agency ( NINA ) that: This rise cannot be considered as a result of a fruitful monetary or financial policy, insofar as this rise was the result of a significant decrease to more than 54% in the selling of the (suspicious) currency window.
He pointed out that: A significant increase in oil prices for the past two months was another reason for the increase in the bank’s reserves.
He continued: “The cash reserves in 2019 were at rates of $ 65.75 billion, and in the first quarter of 2020 the reserves decreased by 12.5% to 57.5%. Billion dollars. '' / Ended 8
https://ninanews.com/Website/News/Details?key=891183
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