{Economic: Al-Furat News} An economist explained the importance of gold in the reserves of the Central Bank of Iraq.
Salah Nuri told {Euphrates News} that “the gold reserve is a cover for the national currency in addition to the dollar and euro currency, and the Central Bank of Iraq, like the rest of the central banks in the world, invests in gold, with the aim of diversifying the reserve and obtaining returns, through buying and selling in the global markets, the first of which is the London market.”
He pointed to “measure the central bank’s reserves, that is, its assets – gold, the currency of the dollar, the euro, and US Treasuries as an investment.”
“As for the settlements of international transactions, they are done in the currency of the dollar mainly and then the euro currency in a less and limited way,” Nuri continued.
In its report in September, the World Gold Council showed that the gold reserves of the Arab countries amounted to 1515.1 tons, and Iraq ranked fourth with 132 tons after Saudi Arabia, Lebanon and Algeria.
https://alforatnews.iq/news/خبير-اقتصادي-يوضح-أهمية-احتياطي-العراق-من-الذهب
