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    Code of the Iraqi Central Bank No. 56

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    Code of the Iraqi Central Bank No. 56

    Post  Seck on Tue 29 Jan 2013, 17:37

    CBI agrees to follow the international standards of market exchange by increasing foreign currency reserves to “back” and “support” the value of their currency. By doing so, it will starve off risk of volatility or extreme fluctuation of the rate of exchange. And, if inflationary pressures were to set in they will have enough liquidity in reserve to sell off in order to defend their rate of exchange. They agree to diversify their reserves by purchasing USD or any of the other widely accepted stable currencies In turn, this will strengthen their international credit rating.

      Current date/time is Fri 28 Jul 2017, 10:49