CBI: Currency Reserves Increase to $80 Billion

Central bank: the increase in oil prices raised our reserves of foreign currencies and gold to $ 80 billion

http://www.almadapress.com/MediaStorage/GalleryImages/9621.jpg?width=1200&watermark=wmada1large,wmada2large

Iraqi Central Bank revealed on Sunday, the arrival of foreign currency reserves and gold to about $ 80 billion, while attributed to an increase in global oil prices, the reserve expected to increase over the coming months.

The central bank governor said the agency, Abdul Basit Turki, said in an interview to (range Press), said that “reserves the central bank of hard currency, كالدولار, as well as gold, reached about 80 billion dollars,” noting that “the increase in the reserve, which was until last June of about $ 74 billion, due to an increase in global oil prices. ”

Turkish predicted that “over the reserve over the next few months due to the increase in oil prices, which depends upon Iraq by about a large budget and reflected alone on returns.”

He was Chairman of the Supervisory Board of Finance and the Governor of the Central Bank and Agency, Abdul Basit Turki al-Sabri, said in (third from July 2013), that the bank reserves of foreign currencies and gold, totaled $ 76 billion in May 2013.

The International Monetary Fund, announced in (the 23 of March 2013), that funds preventive in the Development Fund for Iraq rose in 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion, attributing the rise to the “revenue unexpected oil. ”

The U.S. development agency predicted in the (third from last December 2012), that leads the Iraqi economy Arab countries within five years, stressing that Iraq possessed all the qualifications to be “an economically powerful state.”

Iraq is trying for years to attract foreign capital to develop its economy in the fields of industry especially oil, including housing and oil and gas extraction, for the need of funds for infrastructure development and reconstruction, but observers assert that the lack of interest of the state to the private sector and the absence of investment laws which guarantees for investors and the absence of Other laws are still obstacles to the evolution of the economy in the form required.

Iraq relies which has the fourth largest oil reserves in the world at 95 percent of its annual budget on its oil exports, and currently produces about two million and 900 thousand barrels per day, while the issue up to two million and 200 thousand barrels per day.

Financial experts say that Iraq’s stockpile of money liquidity has covered over the past years, demanding the government to adopt alternative ways to cover the deficit, including recourse to the application of secondary-market policies that have been agreed upon with the government.

The former central bank governor, Sinan al-Shabibi, had refused the middle of last year, 2009, asked the government to borrow from the Reserve Bank’s funds to meet the shortfall in the budget, saying that the move “illegal and a violation of the independence of the bank.”

$80 billion in CBI Reserves Valued at 2.5 times the Current Dinar Exchange Rate

Integrity electronic – Baghdad, said the decision to economic and investment commission deputy Mahma Khalil that “the central bank demands to issue monthly data are correct and ultra-precision about the size of Central Reserve and expectations for the amount exceeds more than 80 billion dollars during the month of July next, find out whereabouts in the Banks of the world” .

He said the “increased balance of hard currency sovereign will give strength and durability of the Iraqi dinar the state of economic risks in the country.”

He pointed out that “in the event of reaching the size of the reserve to more than 80 billion dollars, it means that every dinar both inside or outside the country covered by (2.5), because the size of the money supply of the national currency of 33 trillion dinars Iraqis. “

The governor of the Central Bank of Abdel Basset Turki has stressed that “the bank reserves of hard currency will exceed the $ 80 billion during the month of July.

http://www.alestiqama.com/news.php?cat=business&id=2431

Do you have Iraqi currency for sale? Try Deal Or Buy Dinar

Registered with the US Department of Treasury and licensed with the state of Illinois, our parent company, Lifesong Development Group seeks to serve with transparent business practices and real people available to answer your questions. To protect your interests, we have stringent security policies in place for buying or selling currency.

Deal or Buy Dinar specializes in buying and selling Iraqi Dinar. If you are looking to sell currency, someone will be in contact with you withing 24 – 48 hours of receipt of your shipment to process your delivery and cut your check. We also offer a 100% authenticity guarantee on all currency.

Check out our website for tips and hints on how to spot fake bank notes and find out the quickest way to determine if your Iraqi Dinar is authentic.

Interested in Iraqi currency? Contact Deal or Buy Dinar

Call us now at 888-235-0320, or email us at sales@dealorbuydinar.com. Our friendly and experienced customer service team is available 8am-5pm CST Monday thru Friday.

CBI authorization to reduce the dollar exchange rate to enhance the value of the dinar

CBI authorization to reduce the dollar exchange rate to enhance the value of the dinar

thumb3-13575595890
Friday, 01 February, 2013
The Central Bank decided to include a number of private banks in Basra openly sell foreign currency, increasing the share of Basra offered to exchange companies and authorize the Governor authority to lower the price of the dollar against the Iraqi dinar.
The Bank said in a statement received (News Agency): the World Bank’s Board of Directors adopted several resolutions encouraging Iraqi banks and credit and Mansour as the first stage and later include all licensed banks open documentary credits, financed by the Central Bank of Iraq in accordance with the mechanism set up for this purpose in addition to the continuation of these banks in the entry window selling foreign currency.
_____________________________________

Alternate translation

«Central» authorization to reduce the dollar exchange rate to strengthen the dinar value

The Central Bank decided to include a number of private banks in Basra openly sell foreign currency, increasing the share of Basra offered to exchange companies and authorize the Governor authority to lower the price of the dollar against the Iraqi dinar.

The Bank said in a statement received (News Agency): the World Bank’s Board of Directors adopted several resolutions encouraging Iraqi banks and credit and Mansour as the first stage and later include all licensed banks open documentary credits, financed by the Central Bank of Iraq in accordance with the mechanism set up for this purpose in addition to the continuation of these banks in the entry window selling foreign currency.

Buying Iraqi Currency Without a Dinar Exchange Rate

The new Iraqi dinar was introduced in 2003. Created to give the country a unified currency and eliminate the use of separate notes by North and South, the dinar is going from strength to strength.

As Iraq’s economic recovery continues, international interest in purchasing the dinar grows at a steady rate. However, the lack of a set dinar exchange rate means it’s not available through banks. Investors wishing to purchase dinar must go elsewhere; to online dinar traders such as Deal or Buy Dinar.

 

Get close to the dinar exchange rate with Deal or Buy Dinar

At Deal or Buy Dinar we’re committed to providing our customers with a good price. There is an official dinar exchange rate; we’re 100% committed to value for money.

We regret that we’re unable to accept currency from sellers outside the United States.

Buying currency at the dinar exchange rate

Buying dinar from us is simple. Contact us by phone, or email dealorbuydinar@yahoo.com.

Finding the most competitive dinar exchange rate

The Iraqi Dinar is not presently trading internationally and because of that many banks or money exchanges will not have it available. Deal Or Buy Dinar provide some level of liquidity for the Dinar market that is relatively illiquid. We specialize in exotic currencies such as the Iraqi Dinar and Vietnamese Dong. Our parent company, Lifesong Development Group, LLC, is registered with the US Treasury and has been since inception.

We buy and sell at the best dinar exchange rate

As with most exotic currency, there is not official Iraqi Dinar exchange rate outside of the rate established through the auctions at the Central Bank of Iraq. We take orders by phone on 630-631-6407. We will soon be accepting orders online. Please feel free to email dealorbuydinar@yahoo.com with any initial questions you may have.

Are you looking to sell your Iraqi Dinar? We both buy and sell dinar. Your order will be processed and payment sent within 48 hours of receipt of your shipment.

Deal or Buy Dinar works mostly with uncirculated notes. For terms and conditions, please visit our website.