Exchange Rate Reasonable

The governor of the Central Bank of Iraq (CBI) on Monday said that the current exchange rate (1,170 Iraqi dinars per dollar) is reasonable, adding that the bank has enough foreign reserves, totaling $43 billion U.S. dollars, to defend the exchange rate.

“The CBI is adopting a managed floating policy of exchange rate, through which a reasonable exchange rate is fixed,” Sanan al-Shubibi told Aswat al-Iraq news agency.

(Aswat Al Iraq)

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