A member of the Economic Committee: lower the price of gold a chance to increase the reserves of the Central Bank of him

[ltr]20-07-2013 10:31 AM[/ltr]

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Baghdad (news) .. Confirmed a member of the Economic Committee MP for the coalition in Iraq Noora Salem Albjara, that the decline in gold on the world market does not affect the existing reserves at the central bank.

And said Albjara (of the Agency news): that the central bank has $ 76 billion of oil reserves and $ 7 billion of gold reserves, distributed at the Bank for International Settlements as a cover for the Iraqi currency.

He added: central bank to ايتعامل the gold, but there are banks to Ataataaml a specific currency, but gold, noting that the decline is a good opportunity for the central bank to increase reserves due to lower prices, in addition to the existing amounts is the cover of the Iraqi currency.

It showed: that the economic crisis experienced by the United States led to the decline of gold significantly in the recent period and raised in large quantities in the global markets.

It is noteworthy that Iraq has taken a big step to strengthen its gold reserves to join the other central banks of emerging market economies such as Brazil and Russia to diversify its foreign reserves. / End / 5. B. PVC /


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