CBI Reserves Reached at $55 Billion Cash & 80 Tons Gold Reserves: Finance Committee

Iraqi Dinar 123 News:– On Thursday, a member of the Iraqi Parliamentary Finance Committee Ahmed Serhan issued a press statement that current Iraqi foreign cash reserves are estimated at 55 billion U.S dollars and Iraqi gold reserves are estimated at 80 tons. He added in his press interview that total Iraqi foreign currency reserves and gold reserves are decreasing significantly every year, especially the U.S dollar currency reserves. He stressed that Iraqi Central Bank should implement perfect monetary policies in order to stop continuous decline in the Iraqi reserves.

Serhan further added that Iraqi reserves of foreign currency at the Iraqi Central Bank are currently decreasing continuously and current cash reserves of foreign currency are amounted at 55 billion U.S dollars. He added that Iraqi gold reserves are estimated only 80 tons. Point to be noted that Central Bank of Iraq earlier issued a statement, “Iraqi Central Bank has at least 60 billion U.S dollars foreign currency cash reserves”. It was also said that Iraqi Central Bank is unable to provide financial support to Iraqi government from its reserves at Central Bank of Iraq. Serhan said that CBI should take some immediate steps to stop continuous decline in its reserves of foreign currency.

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