“Finance” expects to increase Iraq’s reserves of foreign currency to 86 billion dollars

2019/07/05 10:26:27

The House of Representatives Finance Committee on Friday expected the rise in crude oil prices on world markets to increase the reserves of Iraq from foreign currency to 86 billion US dollars.

Hoshyar Abdullah, a member of the committee, said in a publication on social networking sites today that, taking advantage of high oil prices, Iraq’s foreign currency reserves are expected to reach 86 billion dollars.

“Everyone knows that the main revenues of Iraq are from oil exports and with the costs of war against the organization and the existence of displacement and the consequent financial crisis and low oil prices, but it has been able to stabilize the economic situation in Iraq, especially with regard to monetary policy” .



The Speaker of the House of Representatives blesses Iraq and its people to include the historical Babylon on the World Heritage List

Editorial Date: 2019/7/5 17:33

(Baghdad: Al Furat News) Park House Speaker Mohammed Halbusi, Iraq and its people to include the historic Babylon on the list of world heritage.

“Congratulations to the Iraq of civilization, history and culture, to include the historic city of Babylon on the World Heritage List of UNESCO, and to thank everyone who worked, supported and supported the people of the homeland, the brotherly countries and the friends of humanity,” Halboussi said in a tweet on Twitter.

On Friday, UNESCO members voted unanimously for the inclusion of the ancient city of Babylon on the World Heritage List in the 43rd session of the World Heritage Committee held in the Azerbaijani capital of Baku.


Gold is up ahead of US jobs data heading towards a seventh weekly gain

Arab and international

Economy News _ Baghdad

Gold prices rose on Friday and headed for a seventh weekly gain respectively as investors awaited US jobs data that could affect expectations that the Federal Reserve will take strong monetary easing steps.
By 0530 GMT, spot gold rose 0.2 percent to $ 1417.81 an ounce, up nearly 0.6 percent since the start of the week.
Gold futures fell 0.1 percent to $ 1419.80 an ounce.
The US Non-Farm Payrolls report, due later on Friday, which economists expect to rise by 160,000 jobs in June, is expected to be seen, compared to a 75,000 increase in May.

The US central bank holds its monetary policy meeting on July 30 and 31, and the futures contract takes full account of a 25 basis point cut in interest rates.
Gold has gained more than 12 percent or $ 150 since hitting its lowest level since the start of the year at $ 1265.85 in early May, driven by expectations that major central banks will ease monetary policy and escalate tensions between the United States and Iran.
Low interest rates reduce the opportunity cost of a non-yielding gold campaign and pressure the dollar, making gold cheaper for investors than other currency holders.
The dollar index, which tracks the performance of the greenback versus a basket of six major currencies, remained almost unchanged after trading in the previous days in a tight range at a time when US financial markets were closed for a public holiday.
For other precious metals, silver fell 0.1 percent to $ 15.27 an ounce, while platinum rose 0.1 percent to $ 833.28.
Palladium stabilized at $ 1562.50 an ounce and is heading up for the fifth week in a row.