November 1, 2011A Central Bank official reveals a growth in the cash reserves of the Iraqi currency to about 60B USD
Munaf Al-Suaegh, Advisor of Central Bank of Iraq said that the Iraqi currency currently ranges between five and fifty-nine and fifty billion dollars, and stressed that this amount of Iraqi currency provides the stability you need.
Al-Suaegh said that the increase in pro cover currency will increase the confidence of global economies in Iraqi currency.
The collapse of the Iraqi dinar mid-nineties the past caused by the former regime withdrawing large amounts of cash to cover the currency for the purpose of bridging the expenses of the State after stopping the export of oil due to the economic blockade.
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