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Central Bank announces total foreign reserves to $ 72 billion

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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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Iraqi cash reserves rise to $ 50 billion

March 17, 2018
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Knozemedia - Economy 
The Committee on Economy and Investment parliamentary, on Saturday, exceeded the cash reserve with the Central Bank of Iraq to about $ 50 billion, due to the high global oil prices and the completion of military operations against the organization, "Daash" criminal.
 " The cash reserve with the Central Bank of Iraq exceeded 50 billion dollars after a decline lasted for several years because of the decline in oil prices and economic loss after the invasion of gangs and urged several provinces in 2014," said a member of the committee Najeeb Najib .
 "The rise in oil prices and the completion of military operations against the criminal advocate raised the cash reserve in the central bank," adding that "the rise in Iraqi cash reserves will contribute to increase the confidence of foreign investors and increase the profits of the bank because of the sale of the dollar."
Najib explained that "the cash reserve decreased last year to about 45 billion dollars, while in 2016 to about 43 billion dollars after the government withdrew amounts to pay the deficit in the budget," ss 
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On ‎3‎/‎11‎/‎2018 at 5:34 PM, Pitcher said:

The head of operations at the Central Bank, Sunday, said that the reserve currency in the Central Bank exceeded (50) billion dollars.

 +1 Pitcher. Don't know why anyone would gift you a ruby for a news article. Appears they added $1 BILLION to reserves, as reported last May. Headed the right direction. And great news increasing the green, especially on St. Patty's Day. Sending you a virtual green beer for your reporting efforts.

 

                                                                                                                    :cheesehead:

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On March 11, 2018 at 8:33 AM, Officiallytook said:

Yeah, i read on here a few times march 21st was a day of significance...but i dont recall exactly what i read so much on here and wife and three kids im dayumn near clinically insane... But i like the date 3/21 blast off lol and its also my 1st borns b-day so lol

 

My Eldest Daughters' B-day is 3/20 & mine is 3/22 - - -  3/21 would do nicely ;)   :praying: ). . . and your 1st borns is 3/21 - a happy early B-day greeting to your little one. Fingers crossed THAT'S going to be a BIG $$$$$ DAY to celebrate.

 

 Things that make you think; I could be as happy, as a happy person who has something to be happy about :bagofmoney:

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2 minutes ago, 10 YEARS LATER said:

 

My Eldest Daughters' B-day is 3/20 & mine is 3/22 - - -  3/21 would do nicely ;)   :praying: ). . . and your 1st borns is 3/21 - a happy early B-day greeting to your little one. Fingers crossed THAT'S going to be a BIG $$$$$ DAY to celebrate.

 

 Things that make you think; I could be as happy, as a happy person who has something to be happy about :bagofmoney:

 

Happy early birthday wishes to you and your daughter!  My son-in-law’s birthday is on the 21st! I would love to shock him with a big pile of  :moneybag::moneybag: 😄

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18 minutes ago, Half Crazy Runner said:

 

Happy early birthday wishes to you and your daughter!  My son-in-law’s birthday is on the 21st! I would love to shock him with a big pile of  :moneybag::moneybag: 😄

 

This is becoming curiouser & curiouser. . . I'd love to get shocked with a Big Pile O' :moneybag: :moneybag: ;)  . . . Thank you for the B-day greeting ! 

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23 minutes ago, 10 YEARS LATER said:

 

My Eldest Daughters' B-day is 3/20 & mine is 3/22 - - -  3/21 would do nicely ;)   :praying: ). . . and your 1st borns is 3/21 - a happy early B-day greeting to your little one. Fingers crossed THAT'S going to be a BIG $$$$$ DAY to celebrate.

 

 Things that make you think; I could be as happy, as a happy person who has something to be happy about :bagofmoney:

 

My sons is March 23rd!!!

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1 hour ago, 10 YEARS LATER said:

 

My Eldest Daughters' B-day is 3/20 & mine is 3/22 - - -  3/21 would do nicely ;)   :praying: ). . . and your 1st borns is 3/21 - a happy early B-day greeting to your little one. Fingers crossed THAT'S going to be a BIG $$$$$ DAY to celebrate.

 

 Things that make you think; I could be as happy, as a happy person who has something to be happy about :bagofmoney:

🤞🤞

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5 hours ago, 10 YEARS LATER said:

 

My Eldest Daughters' B-day is 3/20 & mine is 3/22 - - -  3/21 would do nicely ;)   :praying: ). . . and your 1st borns is 3/21 - a happy early B-day greeting to your little one. Fingers crossed THAT'S going to be a BIG $$$$$ DAY to celebrate.

 

 Things that make you think; I could be as happy, as a happy person who has something to be happy about :bagofmoney:

 

5 hours ago, Half Crazy Runner said:

 

Happy early birthday wishes to you and your daughter!  My son-in-law’s birthday is on the 21st! I would love to shock him with a big pile of  :moneybag::moneybag: 😄

 

4 hours ago, Jaygo said:

 

My sons is March 23rd!!!

 

 

A very Happy Birthday to our March babies and family member's.  :partyhat::partyhat:  :woot::woot:

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1 hour ago, nannab said:

 

 

 

 

A very Happy Birthday to our March babies and family member's.  :partyhat::partyhat:  :woot::woot:

 

Curiouser & Curiouser :moneybag:  3/21/18 ???????? 

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Tuesday 20 March

 

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Alsumaria News / Baghdad
's central bank announced on Tuesday that foreign reserves grew 7% in 2017, confirming that these eight countries spread over reserves. 

The bank said in a statement that Alsumaria News reported that "the annual reports showed the growth of foreign reserves in 2017 by 7% compared to 2016," noting that "investment portfolios in US dollars also grew by 38% as a result of investment in the dollar currency bonds and treasury bills And deposits.

 

 


"The investment portfolio in gold also witnessed a positive growth of 15 per cent in 2017, which caused its 2017 equal value compared to 2016, and the bank's investment in sukuk Islamic bonds grew by 50 per cent," the bank said. 

"The reserve department takes into account the importance of the geographic distribution of investments. These reserves are distributed to eight countries, mainly the United States, Switzerland, France and Britain, " the bank said 

On December 26, 2017, Iraqi central bank governor Ali al-Alak announced that the bank's foreign exchange reserves were $ 48 billion.

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Central Bank announces the rise of Iraq's foreign currency reserves to 51.5 billion dollars
 
6891.jpg
Side of the meeting of the Governor of the Central Bank on the relations with the local media «Economy News»

  

 Banks


Economy News Baghdad:

The governor of the Central Bank of Iraq, Ali Alalak, the rise of Iraq's foreign currency reserves to 51.5 billion dollars.

Al-Alak said in a meeting with a number of editors of local newspapers and news agencies, including the "Economy News", that "the foreign reserves rose this year to 51.5 billion dollars because of the failure of the central bank to buy treasury remittances," adding that "the central bank has gone a long way in managing Foreign reserves and we are starting to generate financial returns by investing gold abroad. "

He pointed out that "the Central Bank was able to restore the independence lost since 1980 to the government in addition to controlling inflation, which reached 40% before 2003 and now 4%."

"The stability of the banking sector is an essential objective to achieve financial stability and curb inflation," he said.

He continued that "the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly 14 trillion dinars did not face any violations."


Views 2117   Date Added 26/03/2018

 

http://en.economiciraq.com/2018/03/26/central-bank-announces-the-rise-of-iraqs-foreign-currency-reserves-to-51-5-billion-dollars/

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And to keep it running smoothly, we keep crap currency in the drawer ...  If they hit 51  billion in 3 months , what is it going to take for them to give Iraqi folks some good value on dinar ? Geeessss

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Governor of the Central Bank: Reserves are re-increasing

March 26, 2018

The Central Bank of Iraq has succeeded in strengthening the country's reserves of hard currency and precious metals to more than fifty billion dollars, expected to continue this process with the improvement in the performance of the bank and recovery from the difficult situation experienced by the country with the collapse of oil prices and the invasion of a terrorist organization calling for a third of the country. 


In an interview with a number of media officials at the headquarters of the General Administration yesterday, the Governor of the Central Bank Ali Mohsen Al-Alaq said that the reserve managed by the bank has been achieving a greater return than before, which is due to the diversification in the operations associated with its management and to the program to develop cadres, These operations by himself without intermediaries as was the case in the past, and confirmed that the reserve amounted to 51 billion dollars today.


The reserves fell in 2016 to $ 43 billion in the circumstances that followed Iraq after the collapse of oil prices, the country's main source of income and the only source of hard currency, as well as a sweeping invasion, which covered one-third of the country and resulted in very poor social, economic and political conditions. The reserves were in the range of $ 77 billion in 2013. 


Al-Alak said that the bank has also been interested in recent years in the development of public and private banking. He said that he has completed the infrastructure of the smart card system, which is now ready to deal with it even through mobile phones, Government has agreed to pay the salaries of employees through banks through special accounts of staff, noting that some ministries have begun using this system, and stressed that the Bank 's plan to modernize the currency in circulation and the deletion of zeros. 


Al-Alak pointed out that the bank did not allow him in previous circumstances to play his role in stimulating the national economy, he is now working in this direction, referring to the lending initiative launched by the bank and the monitoring of 6 trillions and 500 billion dinars to lend to industrial and agricultural projects, including trillion and 500 billion JD for small projects. 


The central bank governor said that the bank also managed to address the situation of most of the troubled private banks and troubled, noting that the large international banks seeking to work in Iraq and referred to what he called the signs of the return of foreign investment to Iraq.

 
On the external debt, al-Aalak stressed that it is still acceptable, pointing out that the external debt is mostly inherited from the previous regime (41 billion dollars) while foreign debt in this era is 29 billion dollars and internal 42 billion dollars.

Edited by DWS112
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The Iraqi central bank governor Ali Aliak said on Monday that the Iraqi debt reached 71 billion dollars, stressing that the subject of deleting zeros from the currency is ready but needs a suitable environment for its implementation.

Al-Aalak said in a meeting with the editors of a number of Iraqi media and attended by “Economy News” that “Iraq’s external debt is still within reasonable rates did not reach the red zone,” stressing that “the current Iraqi debt is $ 71 billion, divided into 42 billion An internal debt dollar and $ 29 billion in foreign debt. “

He added that “some specialists add to the total debt amount of more than 40 billion dollars, which is a Gulf debt since the time of the previous regime and is pending and did not claim these countries,” explaining that “the Gulf countries may be debt cancellation at any time.”

On the other hand, Al-Alaq said that “the subject of deleting zeros from the currency is ready but needs a suitable environment to be applied to prevent manipulation and fraud by the owners of vulnerable souls,” noting that “the Central Bank sent the salaries of employees of the Kurdistan region before solving the problem with the central government and deposited In the branch of Erbil

Edited by jb4388
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