Central Bank: The value of the Iraqi dinar has become equivalent to one and a half dinars, with our reserves exceeding 90 billion dollars
Central Bank: The value of the Iraqi dinar has become equivalent to one and a half dinars, with our reserves exceeding 90 billion dollars
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The Central Bank of Iraq confirmed, today, Friday, that the cash reserve exceeded 160% of the value of the Iraqi dinar, and while confirming the increase in the cash reserve exceeding 90 billion dollars, it expected the introduction of the 20 thousand currency at the end of next year, stressing at the same time the granting of 15 trillion dinars as loans for projects in four domains.
The Central Bank's advisor, Ihsan Al-Yasiri, said, "For the first time, the central bank's reserves exceeded the threshold of 90 billion dollars, as this number is very large and indicates a barrier to the recovery of the economy and a great support for the value of the Iraqi currency," noting that "the value of the Iraqi currency or the balance exceeded 160 %, as the value of the Iraqi dinar amounted to more than one and a half dinars.
He added, "The Iraqi currency is now witnessing a significant rise and recovery, as it is considered one of the strong international currencies, although it is not an international currency for circulation," noting that "the government and the Ministry of Finance have an opportunity to assign fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through this Funds by allocating part of it within the 2023 budget.