Iraqi gold reserves rise to 131 tons


Economie| 11:58 – 08/21/2022

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Baghdad – Mawazine News
, Deputy Governor of the Central Bank, Ammar Khalaf, expected today, Sunday, that the cash reserves of the Central Bank will reach 90 billion dollars at the end of this year, while he indicated an increase in gold reserves by 30 tons.

Khalaf told the official news agency, Mawazine News, that “the rise in the central bank’s reserves came as a result of the rise in international oil prices, and this is reflected in the rise in reserves,” expecting “the reserves to reach 90 billion dollars by the end of this year.”

He added that “the current reserves of the Central Bank amounted to more than 80 billion dollars,” noting that “the gold reserves amounted to more than 131 tons, as it increased by about 30 tons, and this led to a high ranking of Iraq globally.”

He stated that “gold is not increased continuously, but rather through long periods.” Ended 29 / AD 99

https://www.mawazin.net/Details.aspx?jimare=203029

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One thought on “Iraqi gold reserves rise to 131 tons

  1. I thought a country’s gold reserves is to back up their currency. Why would Iraq use gold to back up a dinar worth so little ?

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