Baghdad (IraqiNews.com) – Iraq’s Central Bank has reached a new milestone, with the value of its gold reserves now exceeding 24 trillion Iraqi Dinars. This marks a record high for the country and a significant 13.3% annual increase, with the value soaring by 135% since 2022.
The bank’s latest statistics reveal that gold reserves now constitute a record 20% of its total assets, which are valued at 123 trillion Dinars. This is the first time since the Central Bank’s establishment that gold’s share has exceeded this threshold. The increase in value is primarily due to the rise in global gold prices, as Iraq’s official gold holdings were last reported at 162 tons.
This strategic move by the Central Bank aims to enhance the strength and value of the Iraqi dinar amidst global currency fluctuations, especially with the US Dollar. By increasing its gold reserves, which are considered a “safety factor” against international financial volatility, the Central Bank is reinforcing Iraq’s financial stability and security
