Central Bank: Hard currency reserves amounted to more than $99 billion

• Time : 2023/01/02 15:22:29
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(Economic: Euphrates News) The Central Bank of Iraq announced on Monday the launch of the electronic platform for foreign trade, while noting that hard currency reserves amounted to more than 99 billion dollars.

Deputy Governor of the Bank Ammar Hamad said in a televised statement that “the Central Bank witnessed today the launch of the work of the electronic platform for foreign trade,” noting that “the work of this platform continued for more than a year and a half in order to regulate the process of external financial transfer and financing foreign trade.”

“This platform is the only way and way to finance foreign trade,” he added, noting that “comeign and government banks have sufficient information on the mechanism of using the platform.”

“Documentary credits will be financed at a subsidized exchange rate of 1465 dinars to the dollar,” he continued, explaining that “the platform is an opportunity for traders, investors and business owners to finance their trade and financial work.”

On the bank’s reserves, Hamad said that “the reserves of the Central Bank amounted to more than 99 billion dollars,” pointing out that “in a short period of time it will reach 100 billion dollars due to high oil prices.”

He stressed that “the rise in reserves is a positive indicator for the Iraqi government and the Central Bank for the stability of the exchange rate and the local currency.”

https://alforatnews.iq/news/البنك-المركزي-احتياطيات-العملة-الصعبة-بلغت-أكثر-من-99-مليار-دولار