By the numbers.. Unprecedented value of Iraq's foreign reserves
Economy | yesterday, 22:43 |
The financial and economic adviser to the Iraqi government, Mazhar Mohammed Saleh, revealed on Tuesday the size of Iraq's foreign reserves. Saleh told (Baghdad today) that
"Iraq's foreign reserves are the highest today in the country's financial history, which amounted to about 90 billion dollars," explaining that
"its coverage of the exported Iraqi currency also amounted to about 150%, meaning that every dinar exported to circulation in the economy is covered with foreign currency one and a half times.
"What happens here and there from fluctuations in the exchange rate through secondary markets is nothing but commercial speculation that occurs suddenly and disappears immediately," he added.