CBI: Gold reserves leap to more than 130 tons

Economy

27-06-2022, 17:34

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INA – BAGHDAD

Central Bank of Iraq – CBI announced on Monday, that Iraq has finished ten ranks in the most gold reserves countries, bringing the total of 130.39 tons, as it ranked thirty worldwide and fourth in the Arab.

“New quantities of gold with approximately 34 tons are being purchased, as an increase of 35% of what was in its possession, for this increase came within the framework of CBI strategy to manage the assets with what achieves the highest levels of stability and the ability to face local and international economic variables," according to a statement by CBI received by the Iraqi News Agency – INA.

The statement included that "gold is one of the most important assets that central banks and international financial institutions maintain. It is a safe haven in the conditions of uncertainty, because of acceptance at the international level.”