CBI denies declining foreign reserves L49 billion


CBI denies declining foreign reserves L49 billion


From: Amal Hosni

Straightforward: to deny a source familiar with the CBI, the decline of foreign reserves has to $ 49 billion.

The source for “live”, the bank reduced the reserve requirement on deposits of banks, not lower foreign reserves.

The source said, that the bank deliberately reduced the cash reserve on bank deposits from 15% to 10% at the end of last year.

The source pointed out that it was reducing the cash reserve on deposits of banks; to improve the liquidity of the banking system, and to provide small loans for the development of the Iraqi economy, and tackling unemployment.

And rose today, the Iraqi Central Bank sales of foreign currency to 162.39 million dollars .



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