Pat H Posted November 30, 2010 Report Share Posted November 30, 2010 Categorized | Banking & Finance Big Increase in Iraq’s Foreign Currency Reserves Posted on 29 November 2010. Tags: banking, IQD, iraqi dinar The Iraqi Central Bank announced recently an increase in its reserves of foreign currency to more than $ 50 billion, up from $ 41 billion at the end of the first half of 2010. Mohammed Salih, an advisor to the bank, said in an interview with Radio Free Iraq that this increase is attributable to rising world oil prices during the second half of this year, and added that the rise in reserves would increase the strength of the Iraqi currency. A number of Iraqi economists stressed that increasing the size of the Iraqi Central Bank’s reserves of hard currency will not directly affect the local economy, but will serve to strengthen the local currency. In this regard, economic expert Dr. Abdul Rahman al-Mashhadani said the strength of the currency “will increase the trust of foreign and local investors by increasing the attraction of investment in Iraq.” (Source: Radio Free Iraq) 2 Link to comment Share on other sites More sharing options...
Frank61 Posted November 30, 2010 Report Share Posted November 30, 2010 Categorized | Banking & Finance Big Increase in Iraq’s Foreign Currency Reserves Posted on 29 November 2010. Tags: banking, IQD, iraqi dinar The Iraqi Central Bank announced recently an increase in its reserves of foreign currency to more than $ 50 billion, up from $ 41 billion at the end of the first half of 2010. Mohammed Salih, an advisor to the bank, said in an interview with Radio Free Iraq that this increase is attributable to rising world oil prices during the second half of this year, and added that the rise in reserves would increase the strength of the Iraqi currency. A number of Iraqi economists stressed that increasing the size of the Iraqi Central Bank’s reserves of hard currency will not directly affect the local economy, but will serve to strengthen the local currency. In this regard, economic expert Dr. Abdul Rahman al-Mashhadani said the strength of the currency “will increase the trust of foreign and local investors by increasing the attraction of investment in Iraq.” (Source: Radio Free Iraq) Good post. Another key factor to show stability to the IMF and thw financial world !! Link to comment Share on other sites More sharing options...
jmo74789 Posted November 30, 2010 Report Share Posted November 30, 2010 about how much money do you think they need just to support the rv for speculators such as ourselves? .... heard we only hold like 3% of all dinar... Link to comment Share on other sites More sharing options...
tampa1000 Posted November 30, 2010 Report Share Posted November 30, 2010 That's very positive!!! 1 Link to comment Share on other sites More sharing options...
MovieMaker Posted November 30, 2010 Report Share Posted November 30, 2010 FANTASTIC FIND, THANKS Link to comment Share on other sites More sharing options...
^theStig Posted November 30, 2010 Report Share Posted November 30, 2010 For years they keep saying that the dinar is being strengthened,yet it still trades for the same price. Enough of the talk and do it already. 1 Link to comment Share on other sites More sharing options...
Biker girl Posted November 30, 2010 Report Share Posted November 30, 2010 That's a good sign ! Link to comment Share on other sites More sharing options...
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