A number of economic and financial experts predicted that Iraq would experience a considerable financial and economic collapse in the coming period due to a significant decrease in the foreign currency hard cash reserves at the Iraqi Central Bank.
This situation created by the lack of management in the state’s reserves caused unsecured the future of next Iraqi generations. A member of Iraqi Finance Committee Serhan Ahmed indicated that Iraqi Central Bank used a large amount of foreign cash reserves in their daily auction sales of foreign currencies, which caused a significant decrease in the foreign currency hard cash reserves. Most of the currency investors agreed to Sell Iraqi Dinar currency due to an expected decrease in the Iraqi Dinar Exchange Rate against the U.S dollar in the near future. A famous economic expert Muhammad Al-Hussaini said that Iraqi Central Bank had more than 74 billion U.S dollars hard cash reserves, but now this amount has been decreased significantly and reached at 50 billion U.S dollars.
He added that Iraqi Central Bank doesn’t have a perfect vision in increasing the hard cash reserves, but selling foreign currency without existence of other sources of revenues to increase the size of reserves. He also pointed out that hard cash reserves are considered a security element for the local currency of any country, so the collapse of Iraqi dinar is much expected in this situation. A member of Iraqi economic and investment committee Ahmed Saleem said earlier that foreign cash reserves will be utilized for the payment of salaries to government employees and some other essential financial operational matters. But, some dinar gurus predicted that Iraq is a powerful country and its economic condition would become stabilized because Iraqi Prime Minister is much dedicated to reforms. This process would empower the Iraqi economic condition and it would also provide a handsome support to Iraqi dinar currency against the U.S dollars. Dinar gurus also said that expected IQD Revaluation is not too far, so it is the perfect time to Buy Iraqi Dinar currency. They also predicted that Iraqi Dinar Revaluation is expected in the mid of this year, so keep calm and earn more profit from Iraqi Dinar Investment.